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US Stocks Move Higher

U.S. stocks closed higher, Thursday, posting their first gain in four days following a deluge of economic data including jobless claims, retail sales and import/export figures.

U.S. Jobs
According to the Labor Department, initial claims for regular state unemployment-insurance benefits fell 12,000 to 334,000 in the week ended June 8, their lowest level since early May. The average of new claims over four weeks declined 7,250 to 345,250. Economists polled by MarketWatch had forecast an initial claims tally of 350,000.

U.S. retail sales rose in May at the fastest rate in three months, led by auto purchases, while spending in other sectors was mixed. Retail sales rose a seasonally adjusted 0.6% last month. Excluding auto sales, retail sales were up a smaller 0.3%.

Also released, Thursday, May Export Prices declined 0.5%, below the consensus forecast of negative 0.3%. Import prices were as expected, down 0.6%.

U.S. stocks shrugged off steep losses in Asian markets. The Nikkei once again posted steep losses, and is now officially in bear market territory. The other Asian and European markets finished lower.

Commodities ended mixed. Oil closed up 0.68% at $96.53 a barrel, while gold finished down 0.01% at $1,377.70 per ounce.

Here's Where The Markets Stood At Day's End

  • Dow Jones Industrial Average up 180.85 (+1.21%) to 15,176.08

  • S&P 500 up 23.84 (+1.48%) to 1,636.36

  • Nasdaq Composite Index up 44.94 (+1.32%) to 3,445.37

GLOBAL SENTIMENT

  • Nikkei 225 Index down 6.35%.

  • Hang Seng Index down 2.19%.

  • Shanghai China Composite Index down 2.84%.

  • FTSE 100 Index down 0.15%

  • DAX down 0.61%

  • CAC 40 down 0.02%

UPSIDE MOVERS

  • (+) VSTM, Company announced that VS-6063 has received orphan medicinal product designation from the European Commission for use in mesothelioma. The designation is to encourage the development of drugs which may provide significant benefit to patients suffering from rare diseases.

  • (+) MICT, Company announced its wholly owned subsidiary, Enertec Systems 2001 Ltd, was awarded a contract valued at $3.3 million for initial production units for the fire control computer for the newest version of an advanced missile defense system.

  • (+) LRAD, Company announced that it has been awarded a multi-year $12.2 million firm-fixed-price, indefinite-delivery/indefinite-quantity contract for small, medium and large LRAD long range acoustic hailing devices (AHDs) from the U.S. Navy's Naval Surface Warfare Center located in Crane, Indiana.

  • (+) MBIS, officially changes its corporate name from WebMediaBrands Inc. and changed its Nasdaq stock ticker symbol from WEBM to better reflect the company's business.

DOWNSIDE MOVERS

  • (-) CLDT, Company prices its public offering of 4.5 million shares at $16.35 per share. Total total gross proceeds will be $73.6 million prior to underwriting discounts and offering expenses.

  • (-) ECTY, Company announced that it will raise about $8.19 million in gross proceeds in a private placement of 5,123,423 shares of common stock priced at $1.60 per share to certain institutional investors.

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