Street Rebounds on Thursday; Dollar Slips Ahead of Friday's Jobs Data
Despite back-and-forth trading the stock market was able to finish slightly higher on Thursday. Good news came from the job market where a drop in unemployment claims for the week was reported. Household wealth has grown by about $3 trillion in last three months and now debt-to-GDP is the smallest since the last quarter of 2005. Apple (AAPL) fell for a third day in a row while Ciena Corp (CIEN) gained about 14% after beating Q2 earnings expectations. Yum Brands (YUM) was trading higher as well on speculation that its business in China is improving.The dollar tumbled against the euro and the Japanese yen on concerns that tomorrow's nonfarm payrolls report will disappoint.
Word on the Street
- Retail sales rise in May and fall in line with expectations on Wall Street.
- Household wealth tops $70 trillion, recovering much lost in the recession.
- China's first IPO of 2013 surges more than 30% over the price originally offered.
- Dollar slumps against the euro and yen; Nikkei slumps due to declining markets.
- Guess (GES) Rallies on Healthy Guidance for Fiscal 2014.
Published on Jun 6, 2013By InvestorGuide Staff