Stocks have moved mostly higher over the course of early trading on Thursday, adding to the strong gains posted in the previous session. The major averages have climbed firmly into positive territory, further offsetting the sell-off seen on Tuesday.
The European Central Bank lowered the economic growth and inflation outlook for the euro area on Thursday, citing more downside risks that have emerged recently, and said that it was ready to extend its quantitative easing programme beyond the September 2016 deadline, if needed.
After reporting a substantial acceleration in the pace of U.S. service sector growth in the previous month, the Institute for Supply Management released a report on Thursday showing a modest slowdown in the pace of growth in August.
With the value of exports rising and the value of imports falling, the Commerce Department released a report on Thursday showing a notably narrower U.S. trade deficit in the month of July. The report said the trade deficit narrowed to $41.9 billion in July from a revised $45.2 billion in June.
Medical device maker Medtronic plc on Thursday reported a 6 percent decline in profit for the first quarter from last year, as a surge in revenues that was helped by the company's acquisition of Covidien plc was more than offset by higher costs and expenses. However, sales beat analysts' expectations. The company also affirmed its outlook for earnings and sales growth for fiscal 2016.
A day ahead of tomorrow's monthly jobs report, the Labor Department released a report on Thursday showing that first-time claims for U.S. unemployment benefits rose more than expected in the week ended August 29th.
Electric car maker Tesla Motors, Inc.'s Model X Crossover Signature Series is starting at $132,000 with an estimated 240-mile range. The Model X Signature edition is Tesla's first crossover utility vehicle. The coolest feature: falcon-wing rear doors with sensors to prevent them from hitting things while opening.
Following the rally seen over the course of the previous session, stocks may see some further upside in early trading on Thursday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 105 points.
A sampling of U.S. apparel retailers on Thursday reported mixed sales at established stores for the pivotal back-to-school shopping month of August. Consumers tightened their back-to-school budgets for traditional items like clothing while shifting their spending toward big, infrequent purchases such as new vehicles. Mall traffic was not quite as robust this season.
The European Central Bank left its interest rates unchanged on Thursday as recent data suggest that economic recovery is continuing, albeit at a sluggish pace, while lower oil prices, stronger euro and the Chinese slowdown pose risks to the outlook. The Governing Council, led by ECB President Mario Draghi, kept the refinancing rate at a record low 0.05 percent, following the meeting in Frankfurt.
Xiaomi Corp., nicknamed the "Apple of China" is planning to launch laptops, a report by Bloomberg said. The Chinese brand has been pausing a direct challenge to major smart phone brands in Asian markets in the recent years. It has planned to win over China, India and Brazil markets those together would account for one third of the worldwide sales.
Campbell Soup Co. (CPB) Thursday said its fourth-quarter profit declined from the prior year, hit by charges, one less week and an adverse currency impact. The company sees full-year earnings within its long-term growth targets.
British services sector expanded at its weakest rate in over two years casting doubt about sustainability of economic growth into third quarter, a closely watched survey revealed Thursday. The services Purchasing Managers' Index dropped to 55.6, which was the weakest score since May 2013, survey results from Markit Economics and the Chartered Institute of Procurement & Supply showed.
The lack of jitteriness created by the volatility in the Chinese market could help Wall Street sustain the upward move on Thursday. The Chinese market is closed until Monday on account of the military parade held to commemorate Japan's defeat in the World War II. Global cues are positive, as most Asian...
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