Home Wealth  Money Stocks Up: U.S Data A Silver Lining During Greek Storm

Stocks Up: U.S Data A Silver Lining During Greek Storm

Posted: Jun. 17th, 2011  |  By Forbes

powered by Forbes

RSS Syndicated News Email a Friend Suggest an Article Share Visit Website

The markets got a boost Thursday from better readings on jobless claims and housing starts, even in the face of ongoing concerns over Greece's precarious fiscal standing.

First-time filings for unemployment benefits fell by 16,000 in the week ending June 11, to 414,000. Housing starts rose 3.5% in May, to a seasonally adjusted 560,000 units. The reading was an improvement over April's numbers.

In earnings news, grocery store chain Kroger (nyse: KR - news - people ) reported profits that exceeded expectations and the company upped its full year earnings forecast.

Smithfield Foods (nyse: SFD - news - people ) also reported a better than expected profit for its fiscal fourth quarter. Shares of the pork producer are trading up today.

Hewlett Packard (nyse: HPQ - news - people ) has filed a lawsuit against Oracle (nasdaq: ORCL - news - people ), over the continued use of an Intel (nasdaq: INTC - news - people ) chip Itanium. HP is seeking damages as well as an order to stop Oracle from phasing out software that supports the chip.

Capital One Financial (nyse: COF - news - people ) is reportedly in a bid for HSBC (nyse: HBC - news - people )'s U.S. credit card portfolio. The bank and credit card lender also announced a multi-billion dollar deal for ING (nyse: ING - news - people )'s US online bank, ING Direct.

Due on Friday is a reading on consumer sentiment, and the market will also judge Thursday afternoon's weak earnings report from Research in Motion (nasdaq: RIMM - news - people ).

Market News Video produces and distributes online videos about stocks and investing.




Share on Facebook Share
See Next Article
Need to Get Away?
Top 10 Business Hotels
Who says you can’t mix business with pleasure?
Read More
More Articles from Forbes.com

advertisement
Quick Links
Autos
Boating
Real Estate
Luxury Travel
Fashion
Search Real Estate
Find Your Dream Home
Search for homes by
State, Country or Style.
Event Calendar
advertisement
Current News & Features
Salvador Dalí Comes to Beverly Hills
Industry Insiders Explain the Value of the Food & Wine Classic
Five Different Takes on the Vodka Martini
B&B Italia Celebrates its 50th Anniversary
Rare Auction to Offer Signed Artifacts Dating From the Spanish Empire to George W. Bush's Presidency
Custom Yachts Pave the Way for Custom Tenders
The Best Restaurant in the World is Osteria Francescana
5 Car Shows Around the World Where You’ll Find the Biggest Auto Unveilings
The Maîtres Cuisiniers de France-Académie Culinaire de France Meets for its Annual Congress
Supersonic Technology is About to Transform Aviation (Again)
See the complete list
 
Featured Photo Gallery
See the complete list
THINGS WE LIKE