Stocks End Higher on Thursday After 3-Hour Nasdaq Shutdown (YHOO, HPQ)
Earlier on Thursday the markets were up on positive manufacturing reports in both the US and China and jobless claims that fell close to a multi-year low. A gauge of US economic health was also released today, showing an increase in July and pointing to modest improvement. In the afternoon trading on the Nasdaq was interrupted by a technical issue but resumed a few hours later. Abercrombie & Fitch (ANF) dropped sharply after reporting Q2 earnings that were below expectations. Shares of Yahoo (YHOO) were up after a report that the company's web traffic beat out Google (GOOG) in July.Average mortgage rates in the US hit the highest level in two years.
Word on the Street
- Economic expansion continues at a moderate pace, indicator points to a stronger July.
- Rates in the US for 30-year fixed mortgages reach a two-year high.
- Hewlett-Packard's (HPQ) CEO Whitman under scrutiny for blaming others.
- President Obama wants to create a better ranking system for US colleges.
- Gamestop (GME) raises forecast and sees shares jump on Thursday.
- Cisco (CSCO) Plunges After Weak Revenue Forecast and 4,000 Layoffs.
Published on Aug 22, 2013By InvestorGuide Staff