Markets Open Higher As Jobless Claims Drop
A drop in initial claims for unemployment applications lifted the markets to a higher open with the Dow gaining 60 points to 10,447. Nasdaq rose 15 points to 2244.
On the upside
Apple (Nasdaq: AAPL) announced that it will remove restrictions on the use of third party development tools which will now allow the use of Adobe's (Nasdaq: ADBE) Flash technology.
Santarus (Nasdaq: SNTS) secured exclusive manufacturing and distributing rights to the approved prescription diabetes treatment Cycloset.
AU Optronics (NYSE: AUO) was selected to join the 2010 Dow Jones Sustainability World Index.
On the downside
The Securities and Exchange Commission launched an investigation into Fuqi International (Nasdaq: FUQI) for noncompliance with Nasdaq listing requirements.
McDonald's (NYSE: MCD) reported higher same store sales for August of 4.9% but the increase lagged July's 7% growth.
Spartech (NYSE: SEH) disappointed with a third quarter loss.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 638.
