Daily Market Wrap: November 29, 2012 Thursday, November 29, 4:25 PM ET
It was a choppy day of trading on Wall Street with all the major indices in positive territory by mid afternoon, following the release of mostly better-than-expected economic data this morning.
The number of Americans filing first time unemployment claims fell 23,000 to a seasonally adjusted 393,000 last week, according to the Labor Department. Economists expected 390,000 claims.
The Commerce Department said the economy grew at a 2.7 percent annual rate, falling short of economists' expectations for a reading of 2.8 percent.
Also on the economic front, the National Association of Realtors is reporting a 5.2 percent increase in pending home sales in October, marking the highest level in more than 5 years.
Grocery store operator Kroger (NYSE:
KR) posted a 62 percent increase in fiscal third quarter net profit, and the company also raised its profit outlook for the year.
Shares of Tiffany(NYSE:
TIF) are trading lower today, after missing earnings expectations. The high-end retailer also lowered its fiscal year sales and profit forecast.
For MarketNewsVideo.com, I'm Sayoko Murase.
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Daily Market Wrap: November 29, 2012
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