Wall Street clawed back from early losses Thursday amid mixed corporation reports and after better-than-expected job report.
Retailers that have revealed same-store sales figures for March generally revealed worse-than-forecast results, including Gap and Saks. But Wal-Mart Stores and Costco Wholesale Corp. posted rise in March sales as consumer sought discounts on food and electronics.
The U.S. Labor Department said initial claims for unemployment benefits fell by 53,000 to 357,000 last week, better than economists has expected.
The Nasdaq boomed after Japanese drug maker Takeda Pharmaceutical Co. announced an 8.8 billion U.S. dollars all-cash bid for U.S. biotechnology company Millennium Pharmaceuticals.
In addition, Microsoft reportedly is talking with News Corp. on the possibility of a joint bid for Yahoo.
The Dow Jones rose 108.37 to 12,635.63. Broader indexes also climbed. The Standard & Poor's 500 index advanced 11.63 to 1,366.12; and the Nasdaq rose 39.48 to 2,361.60.
Source:Xinhua
|
Comment
Tell A Friend
Print Format
Save Article