It was a mixed day for the markets as investors considered the latest economic data from the Labor Department which showed some signs of recovery in the job market.
On the economic front, the number of Americans filing for unemployment benefits fell 6,000 to a seasonally adjusted 361,000, according to the Labor Department.
Meanwhile, the four-week moving average for new claims increased to 368,250.
The Commerce Department is reporting a 0.2 percent drop in wholesale inventories in June, marking the biggest decline in almost a year.
Kohl's (NYSE:KSS) beat earnings expectations, despite a 20 percent drop in second quarter net income due to weak sales. The retailer also lowered its full year earnings forecast.
IN M&A news, National Oilwell Varco (NYSE:NOV) announced it will buy Robbins and Myers (RBN) for $2.54 billion. The acquisition will help the company expand its product line and the deal is expected to close in the fourth quarter.
Tomorrow, we'll get earnings results from JC Penney as well a look back at the week's top stories.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
VF is about finding the next value/growth sector/investment
Launch related slideshow:
Monday 6/17 Insider Buying Report: VSTM, ACG
Monday 6/17 Insider Buying Report: STRA, VRX
Friday 6/14 Insider Buying Report: ARP, UHAL
Daily Wrap: June 17, 2013
Deal News: LOW, TEF, SFD
Johnson & Johnson Acquires Prostate Cancer Drug
Analyst Moves: CIT, HOS, HPY
Analyst Moves: HIG, MU, DLTR
Analyst Moves: UNP, PXD, LAD
Monday Sector Leaders: Vehicle Manufacturers, General Contractors & Builders
Monday Sector Laggards: Precious Metals, Apparel Stores
Friday Sector Leaders: General Contractors & Builders, Advertising Stocks
Monday's ETF with Unusual Volume: MORT
Monday's ETF Movers: AXUT, GLDX
PFF, EWV: Big ETF Outflows
Daily Dividend Report: CHK, SRC, KCAP, ROP, CPT
Daily Dividend Report: ABT, LHO, DX, AT, RLJ
Daily Dividend Report: GE, BEN, EQR, ZMH, WTW
Jobless Claims Fall to New Five Year Low
US Employers Add 175k in May
Jobless Claims Fall By 11,000
Weekly Market Wrap: June 14, 2013
Weekly Market Wrap: June 7, 2013
Weekly Market Wrap: May 31, 2013
Week Ahead Market Report: June 17, 2013
Week Ahead Market Report: June 10, 2013
Week Ahead Market Report: June 3, 2013