Drop in jobless claims boosts markets

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A drop in first time applications for unemployment benefits lifted the markets to a higher open with the Dow gaining 37 points to 20,686. Nasdaq rose 5 points to 5,869. 


On the upside


Nova Lifestyle (Nasdaq: NVFY) opened a new Digital Assets Cultural Hall facility to accommodate record new paying customers and student member sign-ups.


Sunoco (NYSE: SUN) will sell the majority of its convenience stores to 7-Eleven for approximately $3.3 billion in cash plus fuel, merchandise and other inventories.


L Brands (NYSE: LB) reported a 10% drop in March same store sales but the stock price climbed.


On the downside


Goldman Sachs initiated coverage of Advanced Micro Devices (Nasdaq: AMD) with a Sell rating and an $11 price target.


RDInvesting wrote that concerns are arising that Novavax (Nasdaq: NVAX) may shut down.

 

Investors locked in profits on China Auto Logistics (Nasdaq: CALI).


In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE while decliners edged out advancers by 10 to 9 on Nasdaq. The broader S&P 500 index rose 3 points to 2,356. Bitcoin soared $35 to $1160.


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This page contains a single entry by published on April 6, 2017 6:50 AM.

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