Street Has Third Strong Day on Economic Data (GRPN, SWHC)
The Street had another positive day on Thursday after several economic reports and forecasts. Unemployment claims dropped by 9,000 last week and the amount of private sector jobs increased. Applications for unemployment are reportedly around 1,000 above the five-year low. Also today the G-20 met in Russia to discuss action in Syria, economic growth and recent volatility in the markets. Energy stocks fared well on Thursday and were led by Peabody (BTU) and Marathon Oil (MRO). Groupon (GRPN) traded higher after Morgan Stanley recommended an upgrade to its stock.Smith & Wesson (SWHC) dropped about 2% after sharing earnings. Investors anxiously await tomorrow's monthly jobs report which could offer further clues to when the Fed plans to begin its taper.
Word on the Street
- Global economic growth reportedly reaches a 2-1/2 year high last month.
- ECB's Mario Draghi says the bank is ready to act if needed for recovery.
- Peabody (BTU) leads energy stocks higher on Thursday.
- An increase in US jobs may finally trigger the Fed's taper.
- Samsung Electronics sees TV market recovery and plans for new models.
- Blackberry (BBRY) jumps late on quick buyout talk.
- Krispy Kreme's (KKD) Earnings Aren't Sweet Enough for Wall Street.
Published on Sep 5, 2013By InvestorGuide Staff