Markets were mixed today as the Dow Jones Industrial Average
Stocks moved strongly out of the gate this morning on some positive macroeconomic news. Initial unemployment claims came in at 361,000, 14,000 below market expectations and 6,000 below last week's total, and the numbers could reflect further improvement in hiring, as we saw in last week's jobs report. Meanwhile, the Dept. of Commerce reported that the trade deficit had unexpectedly shrunk to $42.9 billion in June on lower oil prices and increased exports.
That report also showed exports to China sliding 4% while that country reported lower auto sales and factory output. There was also negative economic data out of Europe, including Greek unemployment rising to 23.1% and 55% for Greeks under 25.
Looking at individual stocks, Cisco Systems
On the other side of the ledger, American Express
Outside the Dow, Google
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Fool contributor Jeremy Bowman owns shares of Apple and Google. The Motley Fool owns shares of Cisco Systems, Apple, and Google. The Fool has created a bear call spread position in American Express. Motley Fool newsletter services have recommended buying shares of Apple, Google, and Visa. Motley Fool newsletter services have recommended creating a write covered strangle position in American Express. Motley Fool newsletter services have recommended creating a bull call spread position in Apple. The Motley Fool has a disclosure policy.