U.S. Stocks Turn Mixed
U.S. stocks overcame initial weakness to trade mixed by midday trade on Thursday as the Bank of Japan’s (BOJ) extremely aggressive economic stimulating program overshadowed weak job market data.
At last check, the Dow Jones Industrial Average Index advanced 0.10%; the NASDAQ Composite Index fell 0.13% while the S&P 500 Index added 0.18%
Shares of Greenbrier Companies Inc. (NYSE: GBX) fell on Thursday after the Company said that its fiscal seconf quarter profit plunged 22% due 27% drop in deliveries.
Shares of Zynga Inc. (NASDAQ: ZNGA) slumped after Jefferies maintained “hold” rating on the stock and price target of $3, citing that launch of real-money poker and casino business in the U.K. will have limited financial implication.
On the U.S. economic data front weekly first time claims climbed unexpectedly by 28,000 to seasonally adjusted 385,000 for the week ended March 30, a highest level in first time claims since November. Economists were expecting claims dropping to 350,000 from 357,000 in the previous week.
IN Europe all leading benchmark indexes were trading in red territory after Markit’s composite PMI showed that economic activities in the euro zone contracted in March. Germany’s composite PMI for March slipped to 3-month low while France’s composite PMI was worst in last 48 months.
In Japan, the Bank of Japan (BOJ), in line with expectations, announced series of aggressive monetary easing measures as the nation looks to lift its rate of inflation to a new target of 2% in next 2 years.
In some other markets, crude oil futures slumped 1.79% to $92.76 a barrel while gold futures edged down 0.37% to $1,547.80 an ounce.
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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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