Daily Market Wrap: December 6, 2012 Thursday, December 6, 4:49 PM ET
The markets made some modest gains today despite a light day of trading ahead of the government jobs report due out tomorrow.
The number of Americans filing initial unemployment benefits fell 25,000 to a seasonally adjusted 370,000, according to the Labor Department.
Meanwhile, a report from Challenger, Gray & Christmas showed a 20 increase in planned layoffs in November from the prior month.
Job cuts in the food services sector led the way, as the bankruptcy of Hostess Brands put thousands out of work.
Lululemon Athletica (NASDAQ:
LULU) managed to beat earnings expectations but the yoga apparel retailer forecast a sharp decline in same-store sales growth in the fourth quarter.
Smithfield Foods (
SFD) also topped earnings forecasts but revenue fell short of expectations.
Tomorrow, we'll take a look at the government jobs report as well as the consumer sentiment report.
For Marketnewsvideo.com, I'm Sayoko Murase.
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Daily Market Wrap: December 6, 2012
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