First-time claims for U.S. unemployment benefits unexpectedly showed a notable decrease in the week ended November 30th, according to a report released by the Labor Department on Thursday, although the data was likely impacted by the Thanksgiving Day holiday. The report said initial jobless claims fell to 298,000, a decrease of 23,000 from the previous week's revised figure of 321,000.
After ending a volatile session roughly flat on Wednesday, stocks may continue to experience choppy trading early on Thursday.
The major index futures are currently pointing to a mixed open for the markets. While the Dow futures are down by 21 points, the Nasdaq futures are up by about 5 points.
Canada's second-largest lender TD Bank Group Thursday reported a higher fourth-quarter profit, reflecting strong performances from its Canadian and U.S. personal and commercial banking businesses, as well as the Wealth business. However, adjusted earnings, excluding items, missed analysts' estimates. The bank also posted lower provision for credit losses.
A number of U.S. apparel retailers on Thursday reported downbeat sales results at established stores in November, despite deep discounts and aggressive promotions on Black Friday weekend. Looking ahead, the weak sales over the Thanksgiving weekend might force retailers to take bigger markdowns that could hurt their December results.
The Bank of England left its key policy rates unchanged on Thursday, while Chancellor of Exchequer George Osborne said in his autumn statement that the economy is better placed than they had expected early this year. In his 2013 Autumn Statement, Osborne said Britain's economic plan is working and the hard work of the British people is paying off.
Discount retailer Dollar General Corp. on Thursday reported a 14 percent increase in profit for the third quarter, reflecting higher traffic and sales in addition to a tax benefit. Adjusted earnings per share beat analysts' estimates, while revenues missed their expectations. Looking ahead, the company raised the lower end of its earnings guidance range for fiscal 2013.
The European Central Bank maintained status quo in the final policy meeting of the year as the differences within the rate-setting body over the surprise November rate cut are yet to be sorted out. That said, analysts expect the central bank to take action in the coming months, if deflationary tendencies persist and the fragile economic recovery in the euro area fizzles out.
Canadian financial services provider Royal Bank of Canada reported Thursday a higher profit in its fourth quarter, benefited mainly by improved performance in most of its business segments. Separately, the bank said it appointed Dave McKay to succeed President and Chief Executive Officer Gordon Nixon, who intends to retire effective August 1, 2014, after 13 years in those roles.
Wall Street continues to sport a cautious disposition, as it gears up for the release of more data on jobs after the notably strong private payrolls data released yesterday. The major U.S. index futures are pointing to a narrowly mixed opening on Thursday. Global cues are negative, with Asian stocks...
After the surprise move to lower the key interest rate to a record low last month, the European Central Bank is likely to sit tight in the final policy session of this year as the differences within the rate-setting body over the latest rate cut are yet to settle down.
That said, analysts expect the...
UK-based low-cost airline easyJet Plc Thursday reported growth in passenger numbers for the month of November, while load factor marginally declined from the same month last year.
European stocks may drift lower at open on Thursday as investors await the outcome of the European Central Bank and Bank of England hold policy meetings due later in the day for direction. Both the ECB and BoE are widely expected to keep their monetary policies on hold as an increase in inflation in...
Moody's Investors Service on Wednesday revised up its outlook on Spain's government bond ratings to 'stable' from 'negative', citing better growth prospects and improving public finances. At the same time, the rating agency affirmed Baa3 rating on Spain's government bond, which is the lowest investment grade rating.
Singapore-based chip maker Avago Technologies Ltd. (AVGO) said Wednesday after the markets closed that its fourth quarter profit rose a modest 8% from last year, as higher costs and expenses dented a 19% revenue growth.
The company's quarterly earnings per share, excluding items, came in above analysts'...
Guess Inc. (GES) Wednesday reported a drop in profit for the third quarter, hurt largely by lower revenues, especially in North America region, and weak margins. Nevertheless, the fashion apparel retailer's adjusted earnings came in ahead of Street expectations.
Moving ahead, Guess raised the lower...