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Xilinx Leads Tech Rally
Jan 05, 3:03 PM EST |
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| Oil inventories fell by 1 million barrels for the week ended Dec 30 to 321.6 million barrels from the prior week's level of 322.6 million barrels. |
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| Semiconductors gained for the third session in a row, boosting the Nasdaq up 0.5%, while the broader market was flat on Boeing downgrade and December retail sales. Target Corp., Costco Wholesale, Nordstrom and Federated Department Stores posted strong sales, but Wal-Mart disappointed. The Labor Department reported a five-year low of initial jobless claims by 35,000 to 291,000. The non-manufacturing index rose to 59.8 in Dec from 58.5 in Nov, above a forecast for a rise to 59.0. |
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Wal-Mart Disappoints
Jan 05, 10:53 AM EST |
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| The Labor Department reported that initial jobless claims dropped by 35,000 to 291,000, the smallest number since Sept. 23, 2000. |
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| Stocks started Thursday session flat as retailers'' reports on December sales showed respectable holiday season but a few big names, including Wal-Mart, disappointed traders. Among the leading gainers were Target Corp., Costco Wholesale, American Eagle Outfitters with luxury retailers like Nordstrom and Federated Department Stores making the best performance. Wal-Mart fell short of expectations, posting only a 2.2% same-store sales growth. |
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Dramatic Drop in Unemployment
Jan 05, 9:20 AM EST |
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| Oil prices retreated to $63.34 a barrel ahead of inventory report and mild weather. European gold rose. The dollar gained vs. major currencies. |
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| Asian-Pacific benchmarks continued to rally on tech and exporter issues, led by Taiwan''s Weighted index, up 1.4% and Singapore Straits Times, up 0.99%. The Nikkei advanced 0.4% to 16,425.37. European averages traded in a tight range with the French CAC 40 and London''s FTSE 100 lifted by strong oil stocks. The Labor Department reported that initial jobless claims dropped by 35,000 to 291,000, the smallest number since Sept. 23, 2000. |
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