Market Finishes Slightly Higher
The U.S. equity market finished slightly higher after fluctuating between gains and losses throughout the day. The Dow Jones ended the day 0.08% higher at 11,444.08, the S&P 500 ended the day 0.39% higher at 1,225.85 and the Nasdaq ended the day 0.06% higher at 2,578.98.
The Labor Department today reported stronger-than-expected jobs data. According to Labor Department figures, the U.S. economy added 151,000 jobs in the month of October, beating economists’ forecast.
The National Association of Realtors’ index of pending home resales dropped 1.8% in September, indicating that the pace of recovery in the housing market is still slow.
American International Group Inc. (NYSE: AIG) today reported its third-quarter financial results. The company reported a loss of $2.4 billion in the third quarter on revenue of $19 billion. Shares of AIG ended the day 1.94% higher at $45.61.
Atmel Corporation (NASDAQ: ATML) was among the major gainers in today’s trading. The stock soared after the company reported its third-quarter financial results, posting a 40% increase in revenue. Shares of Atmel ended the day 15.23% higher at $10.29.
Kraft Foods Inc. (NYSE: KFT) also reported its third-quarter financial results. The company reported a profit of $754 million, or $0.43 per share for the third quarter of 2010. Shares of Kraft ended the day 2.23% lower at $31.08.
Crude oil gained in trading today, finishing at a two-year high following the better-than-expected jobs report. Crude oil for delivery in December gained 0.4% to settle at $86.85 a barrel on the New York Mercantile Exchange.
