Investing.com – U.S. stocks were mixed after the open on Thursday in thin trade leading up to the Christmas weekend, as markets digested a flurry of mixed U.S. economic data.
During early U.S. trade, the Dow Jones Industrial Average added 0.09%; the S&P 500 index shed 0.02%, while the Nasdaq Composite index slumped 0.12%.
Earlier in the day, a report from the U.S. Department of Labor showed that the number of individuals filing for initial jobless benefits in the week ended December 18 fell unexpectedly to a seasonally adjusted 420K. Analysts had expected initial jobless claims to rise to 424K.
Meanwhile, a separate report showed that U.S. core durable goods orders rose more-than-expected, while durable goods, which include transportation items, declined for the second consecutive month in November.
In the financial sector, shares were broadly lower. Bank of America saw shares drop 1.57%, shares in rivals JP Morgan-Chase slumped 0.43%, while Citigroup saw shares fall 0.63%.
Elsewhere within the sector, shares in Allied Irish Banks plunged 17.09% after Ireland’s government announced plans to effectively nationalize the lender with a capital injection of USD 4.9 billion to meet the financial regulator's year-end capital requirements.
Meanwhile, in earnings news, shares in domestic merchandise retailer Bed Bath & Beyond jumped 5.83% after it reported a fiscal third quarter profit of USD 188.6 million, up from USD 151.3 million a year earlier. Sales in the quarter rose by 11.1% to USD 2.19 billion, beating analysts expectations for sales of USD 2.1 billion.
In deals news, shares in fabrics and crafts retailer Jo-Ann Stores rallied 32.17% after it agreed to be acquired by private equity firm Leonard Green & Partners for approximately USD 1.6 billion.
Shares in online video-service operator Sonic Solutions soared 27.62% after it agreed to be acquired by Rovi Corporation, a provider of interactive video systems in a deal valued at approximately USD 720 million. Shares in Rovi climbed 0.92% following the news.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 shed 0.18%, France’s CAC 40 fell 0.27%, Germany's DAX eased down 0.02%, while Britain's FTSE 100 added 0.12%.
Earlier Thursday, official data showed that U.S. personal income rose more-than-expected, personal spending rose less-than-expected, while the core PCE price index rose in line with expectations in November.
Later in the day, the U.S. was to release official data on new home sales, as well as revised data on consumer sentiment and inflation expectations and a report on natural gas inventories.
During early U.S. trade, the Dow Jones Industrial Average added 0.09%; the S&P 500 index shed 0.02%, while the Nasdaq Composite index slumped 0.12%.
Earlier in the day, a report from the U.S. Department of Labor showed that the number of individuals filing for initial jobless benefits in the week ended December 18 fell unexpectedly to a seasonally adjusted 420K. Analysts had expected initial jobless claims to rise to 424K.
Meanwhile, a separate report showed that U.S. core durable goods orders rose more-than-expected, while durable goods, which include transportation items, declined for the second consecutive month in November.
In the financial sector, shares were broadly lower. Bank of America saw shares drop 1.57%, shares in rivals JP Morgan-Chase slumped 0.43%, while Citigroup saw shares fall 0.63%.
Elsewhere within the sector, shares in Allied Irish Banks plunged 17.09% after Ireland’s government announced plans to effectively nationalize the lender with a capital injection of USD 4.9 billion to meet the financial regulator's year-end capital requirements.
Meanwhile, in earnings news, shares in domestic merchandise retailer Bed Bath & Beyond jumped 5.83% after it reported a fiscal third quarter profit of USD 188.6 million, up from USD 151.3 million a year earlier. Sales in the quarter rose by 11.1% to USD 2.19 billion, beating analysts expectations for sales of USD 2.1 billion.
In deals news, shares in fabrics and crafts retailer Jo-Ann Stores rallied 32.17% after it agreed to be acquired by private equity firm Leonard Green & Partners for approximately USD 1.6 billion.
Shares in online video-service operator Sonic Solutions soared 27.62% after it agreed to be acquired by Rovi Corporation, a provider of interactive video systems in a deal valued at approximately USD 720 million. Shares in Rovi climbed 0.92% following the news.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 shed 0.18%, France’s CAC 40 fell 0.27%, Germany's DAX eased down 0.02%, while Britain's FTSE 100 added 0.12%.
Earlier Thursday, official data showed that U.S. personal income rose more-than-expected, personal spending rose less-than-expected, while the core PCE price index rose in line with expectations in November.
Later in the day, the U.S. was to release official data on new home sales, as well as revised data on consumer sentiment and inflation expectations and a report on natural gas inventories.