US Markets Climb on Drop in Jobless Claims and Retailers' Rally (CMG, MSFT)

The major indices extended their gains on Thursday on a positive jobless claims report and forecasts for stronger retail sales. Gainers for the S&P included JC Penney Co (JCP) and Ross Stores (ROST), while technology stocks limited the Nasdaq after statements that PC sales dropped significantly in Q1. Microsoft (MSFT) and Hewlett-Packard (HPQ) ended lower, while social media stocks and Netflix (NFLX) lifted the sector.
Both the Dow and S&P 500 were able to climb to intra-day highs on Thursday. After yesterday's 2% drop in gold futures, prices were able to rebound today and settle at $1,564.90 an ounce. The dollar continued to push towards the 100 yen level but was unable to break through. Since the Bank of Japan announced its plan for aggressive monetary easing, the dollar has increased by 6.9% against the yen.

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Published on Apr 11, 2013
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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