http://money.cnn.com/2010/06/03/markets/markets_newyork/index.htm
The market advanced Wednesday as energy shares bounced back from the recent drubbing sparked by the BP (BP) oil spill in the Gulf.
But energy shares were mixed Thursday as investors mulled BP's latest efforts to plug the massive oil leak, nearly 7 weeks after its Deepwater Horizon rig exploded. Two ratings agencies downgraded BP, citing the financial impact and hit to its reputation as a result of the explosion.
Jobs market: Reports on the labor market were released before the market open that showed some improvement. However results were shy of economists' expectations.
The number of Americans filing new claims for unemployment fell to 453,000 last week from a revised 463,000 the previous week. Economists expected 455,000 new claims. But continuing claims, a measure of those receiving benefits for a week or more, rose to 4,666,000 versus forecasts for a decline to 4,600,000 from 4,635,000 the previous week.
Payroll services firm ADP said private-sector employers added 55,000 jobs to their payrolls in May after adding 65,000 in April, short of forecasts for a gain of 60,000.
Economy: Another report from the Commerce Department showed that factory orders increased 1.2% in April, short of the forecast for a rise of 1.7%. Orders grew 1.7% in March
The Institute for Supply Management's services sector index for May held steady at 55.4, missing forecasts for a rise to 55.6. However, any reading over 50 still shows expansion in the sector.
In other economic news, retailers reported the ninth straight month of gains in May, with discounters such as Costco (COST, Fortune 500) leading the charge.
Euro: The European currency inched lower versus the dollar after touching a four-year low of $1.2111 on Tuesday.
The dollar rose 0.4% against the yen.
World markets: Markets in Europe rallied. Britain's FTSE 100 gained 1.9%, Germany's DAX gained 1.7% and France's CAC 40 gained 2%.
Asian markets ended higher. Japan's Nikkei rallied 3.2% and Hong Kong's Hang Seng added 1.6%.
Commodities: U.S. light crude oil for July delivery rose 43 cents to $73.29 a barrel on the New York Mercantile Exchange.
COMEX gold for August delivery fell $1.90 to $1,219.60 an ounce.
Bonds: Treasury prices fell, pushing the yield on the 10-year note to 3.39% from 3.34% late Wednesday. Treasury prices and yields move in opposite directions.
Trading volume: Market breadth was narrowly positive. On the New York Stock Exchange, winners beat losers by a slim margin on volume of 500 million shares. On the Nasdaq, advancers topped decliners by seven to six on volume of 1 billion shares.
http://money.cnn.com/2010/06/03/markets/markets_newyork/index.htm
(not bad to US stock market at all)
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