Stock Market Watch

Stocks Edge Higher in Early Trading

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Stocks have edged higher in early trading today following some upbeat economic data. Some strong sales results from retailers also lifted investors’ sentiment.

A report from the Labor Department showed that initial jobless claims for the week ended February 25 dropped 2,000 to 351,000. Meanwhile, a report from the Commerce Department showed that personal income climbed 0.3% in the month of January, while spending rose 0.2%.


All three major indexes are gaining following the release of economic data. At last check, the Dow Jones was trading 0.48% higher at 13,014.66, the S&P 500 was trading 0.42% higher at 1,371.46, and the Nasdaq was trading 0.43% higher at 2,979.08.

All sectors in the S&P 500 are in green in early trading today. Financials are leading the gains in the S&P 500 currently. At last check, Financials were trading 0.83% higher. Basic Materials stocks are also up sharply in early trading. At last check, Basic Materials stocks were trading 0.52% higher. Consumer Cyclical stocks are currently trading 0.74% higher. Energy stocks are up 0.63% in early trading.

Among the major gainers in early trading today are Pegasystems Inc. (NASDAQ: PEGA), which is currently trading 25.71% higher at $35.30, Vocus Inc. (NASDAQ: VOCS), which is currently trading 2.29% higher at $13.84, HiSoft Technology International Ltd. (ADR) (NASDAQ: HSFT), which is currently trading 15.98% higher at $14.15, and Enbridge Inc. (NYSE: ENB), which is currently trading 0.39% higher at $38.76.

Among the major losers in early trading today are Finisar Corporation (NASDAQ: FNSR), which is currently trading 2.86% lower at $19.71, PetSmart Inc. (NASDAQ: PETM), which is currently trading 2.22% lower at $54.50, and Sothebys (NYSE: BID), which is currently trading 8.57% lower at $35.97.

European markets are mostly higher in trading currently. At last check, the FTSE 100 Index in London was trading 0.93% higher, and the CAC 40 Index in Paris was trading 1.20% higher at 3,493.84.

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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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