Stocks have rebounded after closing lower yesterday. The
European Central Bank lowered its refinancing rate to 0.50% from
0.75% to help the continent's banking system. New weekly
unemployment claims hit a five-year low, also helping stocks. The
(INDEXDJX:.DJI) increased 0.80% to 14,818.95. The
(INDEXSP:.INX) climbed 0.93% to 1,597.44, and the
(INDEXNASDAQ:.IXIC) rose 1.32% to 3,342.82.
The US Department of Labor reported today that seasonally adjusted
weekly unemployment claims fell 18,000 week-over-week to 324,000
for the week ending April 27. The four-week moving average fell
16,000 to 342,250. Seasonally adjusted continuing unemployment
claims increased 12,000 week-over-week to 3,019,000 for the week
ending April 20. The four-week average decreased 18,000
week-over-week to 3,055,500. Read the press release
The US Census Bureau and the US Bureau of Economic Analysis
reported today that a $38.8 billion trade deficit occurred in
March. March exports totaled $184.3 billion and March imports
totaled $223.1 billion. February's revised trade deficit was $43.6
billion. Read the press release
The Bureau of Labor Statistics reported today that nonfarm business
sector labor productivity increased at a 0.7% annual rate during
the first quarter of 2013 from the first quarter of 2012. Output
increased 2.5% and hours worked 1.8% year-over-year. Unit labor
costs in nonfarm businesses increased 0.5% year-over-year for the
first quarter of 2013. Read the press release
Bloomberg reported that its
Consumer Comfort Index
increased one point week-over-week to -28.9 for the week ending
April 28. This is the highest reading since January of 2008.
Year-over-year, the index increased 8.7 points.
Challenger, Gray & Christmas reported today that job cuts
dropped 23% from March's announced layoffs of 49,225 to announced
layoff plans of 38,121 in April. April's reading is the lowest
since December. Read the press release
The US Energy Information Administration stated today in its Weekly
Natural Gas Storage Report that working gas in storage increased by
43 billion cubic feet week-over-week to 1,777 billion cubic feet.
Read the press release
The US Treasury announced today that it will auction $29 billion of
3-month Treasury bills and $24 billion of 6-month Treasury bills on
The Federal Reserve Board of Governors will report on its balance
sheet and the money supply today at 4:30 p.m. EDT.
) rose 3.71% to $39.83. The largest US life insurer reported
yesterday that its first-quarter net income increased from a loss
of $174 million, or $0.16 per share, in the prior-year quarter to a
gain of $956 million, or $0.87 per share.
) spiked 5.88% to $175.79. The largest payment network reported
yesterday a fiscal second-quarter net income that dropped 1.7% from
$1.29 billion, or $1.91 per share, in the prior-year quarter to
$1.27 billion, or $1.92 per share. Operating revenue increased 15%
year-over-year to $2.96 billion.
) jumped 5.70% to $53. The company announced that it has begun a
third Phase 3 study of its pill-form hepatitis C treatment. It
claims that earlier results indicated the treatment could cure
almost all hepatitis C patients with a program that lasted from 8
to 12 weeks.
) increased 8.27% to $64.18. The second-largest life insurer
reported an after-tax operating income of $1.079 billion, or $2.28
per share, compared to $1.61 per share in the prior-year quarter.
) climbed 1.93% to $447.77.