Indices ended in green territory on Thursday. Stocks flourished amid a flurry of economic news. Facebook led the Nasdaq higher in the wake of better-than-expected quarterly data. After the closing bell on Wednesday, the social-media titan reported earnings of 19 cents a share on $1.81 billion in revenue for the quarter. The results exceeded expectations of 14 cents a share on $1.62 billion in revenue. Meanwhile, initial jobless claims increased last week. Labor Department figures showed new claims climbed by 7,000 to 343,000. Economists were expecting 340,000 first-time claims. On another note, durable goods orders ramped up in June. Orders for goods designed to last several years stepped up by 4.2 percent, following an upwardly revised 5.2 percent increase in May. Economists were expecting a 1.3 percent uptick. Elsewhere, Amazon announced earnings details after the closing bell. The online retailer reported a loss of 2 cents a share on $15.7 billion in revenue during the quarter. Analysts had anticipated earnings of 5 cents a share on $15.73 billion in revenue.
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.