The Labor Department’s Weekly Claims Report for initial unemployment claims showed that claims decreased by 17,000 last week. This was an encouraging development given all the concern about employment—or the lack thereof—during recent weeks after the unemployment rate was raised to 9.8 percent and initial jobless claims rose last week. To see the Labor Department’s full report, go here.
Investors seemed unsure of their direction today and the Dow Jones Industrial Average ended the day falling 2.42 points to 11,370.06. The Nasdaq rose 7.51 points to 2,616.67 and the S&P 500 gained 4.72 points to 1,233.
One interesting gain today was found in Sirius XM Radio Inc (NASDAQ: SIRI). According to quotes.Nasdaq.com, SIRI gained 6.46 percent to close at $1.40 today after announcing that Howard Stern would be renewing his contract and staying with SIRI for another 5 years.
Also eking out a gain was Freeport McMoRan Copper and Gold Inc (NYSE: FCX), which rose 1.9 percent to $110.66 according to money.cnn.com. This occurred after FCX announced a special, $1 dividend for shareholders.
European and Asian markets were mixed on Thursday with China’s Shanghai Composite falling 1.32 percent.
Stocks in the news: Range Resources Corp (NYSE: RRC), Lululemon Athletica Inc (NASDAQ: LULU).
