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Before the start of trading, the Labor Department released a report showing that initial jobless claims fell to 565,000 in the week ended July 4th. With the decrease, jobless claims fell below the 600,000 level for the first time since January.
Semiconductor stocks are helping to lead the way higher, while significant strength has also emerged among banking, steel, and housing stocks. On the other hand, healthcare provider stocks are bucking the uptrend.
In the past few minutes, the major averages have pulled back off their highs for the young session, although they remain firmly positive. The Dow is currently up 39.45 at 8,217.86, the Nasdaq is up 12.15 at 1,759.32 and the S&P 500 is up 5.66 at 885.22.
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
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