Markets Advance On Drop In Jobless Claims
The markets advanced during the midday with the Dow climbing 70 points to 13,582 as jobless claims tumbled to a five year low. Nasdaq gained 16 points to 3133.
On the upside
ASML Holding (Nasdaq: ASML) reported higher fourth quarter earnings.
Sony (NYSE: SNE) chief executive Kazuo Hirai said that the company is leaner and more nimble now.
On the downside
Brean Capital downgraded Celsion (Nasdaq: CLSN) to a Sell rating. Citigroup (NYSE: C) disappointed with fourth quarter earnings that fell far short of analyst expectations as legal expenses climbed.
Williams-Sonoma (NYSE: WSM) forecast fourth quarter earnings and revenue below analyst expectations prompting a downgrade.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 index gained 7 points 1479.
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