Stocks Close Higher as Trade Gap Narrows
TheStreet.com - 7 minutes agoStocks closed higher Thursday, as news that the international trade gap narrowed in October appeared to outweigh listless jobs data. Gregg Greenberg has The Real Story.
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Stocks closed higher Thursday, as news that the international trade gap narrowed in October appeared to outweigh listless jobs data. Gregg Greenberg has The Real Story.
Dec. 10 (Bloomberg) -- Stocks rose in the U.S. and Europe and bonds and the yen dropped on signs central banks are confident enough in the strength of the economic recovery to remove stimulus measures.
Dec. 10 (Bloomberg) -- U.S. stocks rose for a second day as the average number of Americans filing first-time jobless claims over the past four weeks fell to a one-year low and the trade deficit unexpectedly shrank as a weaker dollar boosted exports.
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A decline in continuing unemployment claims pushes stocks higher, as some consumer stocks rally on expectations of higher spending.
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U.S. stocks traded higher Thursday morning on some positive signs in a mostly mixed jobs report, while the dollar also gained. Recently, the Dow Jones Industrial Average (DJI) rose 65 points, or 0.7%, to 10,408. Of the index's 30 components, 25 traded in the green, led by Merck & Co.
Stocks rise as the trade gap narrowed and those applying for continued unemployment benefits dropped, even as new jobless claims came in slightly higher than expected.
The trade deficit surprised many, falling to a narrower-than-expected $32.9 billion.
Some consumer stocks get a lift on economic data, while the dollar also gains.
Advancing oil prices lift sector.
Dec. 10 (Bloomberg) -- The yen declined against most of its major counterparts as U.S. continuing claims for unemployment benefits fell to a nine-month low, encouraging demand for higher-yielding assets.
Dec. 10 (Bloomberg) -- Stocks rose in the U.S. and Europe and bonds and the yen dropped on signs central banks are confident enough in the strength of the economic recovery to remove stimulus measures. The Australian and New Zealand dollars strengthened.