Jobless Claims Drop to 5-Year Low; Earnings Beat Estimates (AMZN, XOM)
Earnings reports and encouraging data from the Labor Department boosted the markets on Thursday. Jobless claims fell to almost a five-year low from last week to a seasonally adjusted 339,000. Amazon (AMZN) reported earnings and beat expectations and Starbucks (SBUX) shared Q2 earnings that were up 26% on record sales in the Americas and Asia. 3M Co. (MMM) was among the top decliners for Thursday after lowering its yearly forecast and seeing shares drop 3%.As the EU continues to tackle the budget deficit, Spain announced unemployment figures that reached over 6 million for the first time to 27.2% of the workforce. Gold futures saw their biggest one-day jump since June and the Treasury Department carried out an auction for 7-year notes of 1.155%.
Word on the Street
- US unemployment claims fall to a five-year low but may be distorted due to the holidays.
- Amazon (AMZN) releases earnings and reports slowing global revenue.
- Blackberry (BBRY) trims production of newest smartphone due to poor sales.
- Treasury Department has a strong auction on Thursday with 7-year notes.
- Exxon Mobile Corp (XOM) increases Q1 earnings on chemical business and tax profits.
- Nelson Peltz Discloses Massive Stakes in Mondelez International (MDLZ) and PepsiCo (PEP).
Published on Apr 25, 2013By InvestorGuide Staff