Midway through trading Thursday, the Dow traded up 0.16 percent to 21,041.41 while the NASDAQ climbed 0.28 percent to 6,215.73.
The S&P also rose, gaining 0.23 percent to 2,417.33.
Leading and Lagging Sectors
Cyclical consumer goods & services sector was the top gainer in the US market on Thursday. Top gainers in the sector included
Shiloh Industries, Inc. (NASDAQ: SHLO), Signet
Jewelers Ltd. (NYSE: SIG), and Conn's Inc (NASDAQ:
CONN).
In trading on Thursday, technology shares slipped 0.06 percent. Meanwhile, top losers in the sector included Semtech
Corporation (NASDAQ: SMTC), down 3 percent, and
Callidus Software Inc. (NASDAQ: CALD), down 4
percent.
Top Headline
Dollar General Corp. (NYSE: DG) posted
stronger-than-expected results for its first quarter and raised its FY17 sales growth outlook.
Dollar General posted Q1 earnings of $1.03 per share on revenue of $5.61 billion. However, analysts were expecting earnings of
$1 per share on revenue of $5.59 billion.
Dollar General raised its FY17 sales growth outlook to 5 percent to 7 percent, versus earlier forecast of 4 percent to 6
percent.
Equities Trading UP
Spi Energy Co Ltd (ADR) (NASDAQ: SPI) shares shot
up 39 percent to $1.88 after the company reported a deal with Capital Stage to sell UK solar project.
Shares of ChinaCache International Holdings Ltd (NASDAQ: CCIH) got a boost, shooting up 25 percent to $1.18 as the company disclosed that it
has received Content Delivery Network License from the Chinese Government.
Palo Alto Networks Inc (NYSE: PANW) shares were also
up, gaining 16 percent to $137.59 after the company reported better-than-expected results for its third quarter and issued a strong
earnings forecast for the current quarter.
Equities Trading DOWN
Express, Inc. (NYSE: EXPR) shares dropped 20 percent
to $6.20 after the company posted a wider-than-expected loss for its first quarter.
Shares of Vera Bradley, Inc. (NASDAQ: VRA) were
down 7 percent to $8.77. On Wednesday, Vera Bradley posted a narrower-than-expected quarterly loss, while sales missed
estimates.
Rayonier Advanced Materials Inc (NYSE: RYAM) was
down, falling around 5 percent to $16.46. Vertical Research downgraded Rayonier Advanced Materials from Buy to Hold.
Commodities
In commodity news, oil traded up 0.29 percent to $48.46 while gold traded down 0.65 percent to $1,267.10.
Silver traded down 1.10 percent Thursday to $17.215, while copper rose 0.27 percent to $2.587.
Eurozone
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.37 percent, the Spanish Ibex Index fell 0.29
percent, while Italy’s FTSE MIB Index surged 0.58 percent. Meanwhile the German DAX climbed 0.35 percent, and the French CAC 40
gained 0.69 percent while U.K. shares rose 0.26 percent.
Economics
Private-sector employers added 253,000 jobs in May, ADP reported. However, economists were expecting a gain of 185,000 jobs.
Initial jobless claims rose 13,000 to 248,000 in the latest week. However, economists projected jobless claims to reach 239,000
reading during the week.
The Markit manufacturing PMI increased to 52.70 for May, versus a previous reading of 52.50. However, economists were estimating
a reading of 52.50.
The ISM manufacturing index rose to 54.90 in May, versus a prior reading of 54.90. Economists expected a reading of 54.50.
U.S. construction spending declined 1.40 percent for April, versus economists’ expectations for a 0.50 percent gain.
Supplies of natural gas increased 81 billion cubic feet for the week ended May 26, the U.S. Energy Information Administration
reported. Analysts expected a gain of 78 billion cubic feet.
Domestic crude supplies declined 6.43 million barrels for the week ended May 26, the U.S. Energy Information Administration
reported. Analysts projected a drop of 2.52 million barrels. Gasoline stockpiles slipped 2.86 million barrels, while distillate
stockpiles rose 394,000 barrels last week.
Data on money supply for the latest week will be released at 4:30 p.m. ET.
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