Despite the decline in initial weekly unemployment gains, stocks
have remained flat today. Bloomberg's Consumer Confidence Index
indicates consumers' perception of the economy is at its most
positive in more than five years. The
(INDEXDJX:.DJI) increased 0.14% to 15,126.56. The
(INDEXSP:.INX) dropped 0.04% to 1,632.05, and the
(INDEXNASDAQ:.IXIC) rose 0.19% to 3,419.76.
The Department of Labor reported today that seasonally adjusted
initial unemployment claims decreased by 4,000 week-over-week to
323,000 for the week ending May 4. The 4-week moving average
decreased by 6,250 week-over-week to 336,750. Seasonally adjusted
continuing unemployment claims decreased by 27,000 week-over-week
to 3,005,000 for the week ending April 27. The 4-week moving
average decreased by 24,500 week-over-week to 3,034,250. Read the
Bloomberg released the weekly results for its
Consumer Consumer Confidence Index
today. Week-over-week it decreased 0.6 points to -29.5 for the week
ending May 5. Despite the drop, the index stands at its highest
since November of 2007.
The US Census Bureau reported today that March 2013 sales of
merchant wholesalers, except manufacturers' sales branches and
offices, decreased 1.6% from February to $414.7 billion.
Year-over-year, wholesale sales have increased 1.3%. The Census
Bureau revised the February reading downward by 0.2% or $0.9
billion. Read the press release
The US Energy Information Administration released its Weekly
Natural Gas Storage Report today. Working gas in storage increased
by 88 billion cubic feet to 1,865 billion cubic feet for the week
ending May 3. Year-over-year, inventories decreased 737 billion
cubic feet. Read the press release
The US Treasury announced today that it will auction $29 billion in
3-month Treasury bills and $24 billion in 6-month Treasury bills on
May 13. The Treasury began auctioning its 30-year bonds today at 1
The Federal Reserve Board of Governors will report on its balance
sheet and the money supply today at 4:30 p.m. EDT.
) fell 1.10% to $37.42. The second largest US mobile service
provider has launched Aio Wireless, a subsidiary that will offer
prepaid wireless services. The service will first be available to
customers in Houston, Orlando, and Tampa.
) climbed 4.40% to $81.18. The oil and gas producer reported a net
income $698 million, or $1.76 per share, compared to $778 million,
or $2 per share, in the prior-year quarter. The company will also
sell $4 billion in assets and use $2 billion of the proceeds to
reduce debt while using the other half to repurchase 30 million
) jumped 4.80% to $33.39. The media company's fiscal third-quarter
net income tripled to $2.85 billion, or $1.22 per share, compared
to $937 million, or $0.38 per share, in the prior-year quarter.
Excluding one-time items, the company earned $0.36 per share.
Revenue climbed from $8.4 billion in the prior-year quarter to
) decreased 1.36% to $40.69. MetLife has made a bid for a
controlling stake in the life insurance unit of Malaysian lender
Monster Beverage Company
) plunged 6.99% to $52.99. The largest US energy drink maker by
sales volume reported that first-quarter net income declined 17% to
$63.5 million, or $0.37 per share, from $76.1 million, or $0.41 per
share, in the prior-year quarter. Sales grew 7.3% year-over-year to
$555 million. Terminating sales distributor agreements cut into
Monster's profit by $8.3 million. The CEO Rodney Sacks announced
that sales in April had slowed.