Thursday’s session ended with gains. Financial brands such as JPMorgan Chase and Bank of America led the upswing. Stocks stepped up amid a variety of economic news. The Labor Department said initial jobless claims fell 2,000 to 351,000 last week, from a revised 353,000 in the previous week. On another note, the Institute for Supply Management’s manufacturing index declined to 52.4 in February. The result was shy of expectations for a reading of 54.5. Elsewhere, the Commerce Department said personal income rose 0.3% in January, which was slightly less than an expected 0.4% rise. Personal spending edged up 0.2%, again falling short of expectations of a 0.3% increase.
Disclosures:
All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be the sole basis in making any decisions and is not intended to replace the advice of a qualified professional, such as a tax consultant, insurance adviser or attorney. Although this material is designed to provide accurate and authoritative information with respect to the subject matter, it may not apply in all situations. Readers are urged to consult with their adviser concerning specific situations and questions. This is not to be construed as an offer to buy or sell any financial instruments. It is not our intention to state, indicate or imply in any manner that current or past results are indicative of future profitability or expectations. As with all investments, there are associated inherent risks. Please obtain and review all financial material carefully before investing.