Stocks End Higher as Jobless Claims Surprise; Facebook Reaches $50 (FB)

Stocks were finally able to rebound slightly on Thursday after what was the S&P's longest decline of 2013. Recent unemployment claims data was released, showing a larger drop than was expected. The average rate for the 30-year fixed-rate mortgage finally paused, helping out home buyers and the market temporarily. This rate recently hit two-year highs, making it harder to purchase and pay off homes in the US. JC Penney (JCP) was able to regain some of its large drop from yesterday and stated that it still expects positive same-store sales.
Yahoo (YHOO) jumped nearly 4%, hitting an intra-day high today. EBay (EBAY) announced its plan to buy payment company Braintree for $800 million and saw stock rise 4.3%. Economic worries were eased slightly on Thursday but debates on the US budget and debt continue as investors wait for the government to reach deals.

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Published on Sep 26, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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