Thursday, the US stock market managed to close higher after the crude oil prices eased a bit followed by some positive corporate announcements. On the earnings front, Computer Sciences, Limited Brands, Hormel and GameStop all announced better-than-expected earnings results for the recent fiscal quarters and also issued outlooks that were in-line with analysts’ forecasts.
Further, the financial sector, closed higher after Swiss bank UBS announced that it will raise roughly $15 billion through a rights offering to its existing shareholders. The offering comes at a discount of about 31% to yesterday’s closing price.
Among the Merger & Acquisition news, NRG Energy has made a bid to acquire fellow utility Calpine in an all-stock merger, which values Calpine at $22.70 per share.
On the economic front. the initial jobless claims for the week ending May 17 fell by 9,000 to 365,000, which is below the 373,000 economists projected.
The Dow Jones Industrial Average (DJIA) advanced by 24.43 points to close at 12,625.62. The S&P 500 (SPX) index increased by 3.64 points to close at 1,39435 and the NASDAQ Composite (RIXF) grew 16.31 points to close at 2,464.58.
Crude oil futures for the month of June delivery closed lower by $2.30 at $130.81 per barrel on New York Mercantile Exchange. During the intraday trading the crude prices have touched a new record high of $135.09 per barrel. The prices fell mainly due to the rebound in the dolar as against its rival currencies.
The gold prices for the month of June delivery fell by $10.30 to settle at $918.30 an ounce on the New York Mercantile Exchange. The gold prices touched an intraday high of $935 an ounce. The gold prices decreased after crude oil prices eased and the dollar once again rebounded against the rivals.
Further, the financial sector, closed higher after Swiss bank UBS announced that it will raise roughly $15 billion through a rights offering to its existing shareholders. The offering comes at a discount of about 31% to yesterday’s closing price.
Among the Merger & Acquisition news, NRG Energy has made a bid to acquire fellow utility Calpine in an all-stock merger, which values Calpine at $22.70 per share.
On the economic front. the initial jobless claims for the week ending May 17 fell by 9,000 to 365,000, which is below the 373,000 economists projected.
The Dow Jones Industrial Average (DJIA) advanced by 24.43 points to close at 12,625.62. The S&P 500 (SPX) index increased by 3.64 points to close at 1,39435 and the NASDAQ Composite (RIXF) grew 16.31 points to close at 2,464.58.
Crude oil futures for the month of June delivery closed lower by $2.30 at $130.81 per barrel on New York Mercantile Exchange. During the intraday trading the crude prices have touched a new record high of $135.09 per barrel. The prices fell mainly due to the rebound in the dolar as against its rival currencies.
The gold prices for the month of June delivery fell by $10.30 to settle at $918.30 an ounce on the New York Mercantile Exchange. The gold prices touched an intraday high of $935 an ounce. The gold prices decreased after crude oil prices eased and the dollar once again rebounded against the rivals.
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