The markets made some modest gains today, as investors are hoping that the Federal Reserve will take measures next week to boost growth.
There are more signs of weakness in the labor market today, as the number of Americans filing jobless claims rose 6000 last week, to a seasonally adjusted 386,000, according to the Labor Department.
Also from the Labor Department today, consumer prices fell 0.3 percent in May, led by the biggest fall in gas prices in 3 years.
Software manufacturer Quest (QSFT) announced a proposal from a potential bidder worth about $2.15 billion. Shares of Quest are rallying on the news today.
Also on the M&A front, Sunoco(SUN) is reportedly one step closer to selling its Philadelphia refinery to Carlyle Group (NASDAQ:CG).
Struggling cell phone maker Nokia (NYSE:NOK) announced plans to cut another 10,000 jobs, and the company also cut its earnings forecast, sending shares sharply lower today.
Tomorrow, we'll take a look at the consumer sentiment report as well as a wrap up of all the top stories of the week.
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