Thursday, June 9, 2011

Wall Street Ends Higher On Trade Data, Citigroup (NYSE: C) Rallies

US stocks finished higher on Thursday after a government report showing record U.S. exports in April eased some concerns about a stalled economic recovery.

The Dow Jones Industrial Average rose 75.42 points, or 0.63%, to finish at 12,124.36. The S&P 500 climbed 9.44 points, or 0.74%, to close at 1,289. The Nasdaq Composite advanced 9.49 points, or 0.35%, to 2,684.87.

A release by Department of Labor on Thursday showed number of Americans filing first- time claims for unemployment benefits rose 1,000 to 427,000 in the latest week. Economists had expected initial claims to decline to 419,000.

The Commerce Department reported Thursday hat US trade deficit narrowed by 6.7% in April to $43.7 billion. The trade deficit was well below the consensus forecast of Wall Street economists of a deficit of $48.0 billion.

Shares of Mosaic Co. (NYSE: MOS) rallied $3.18, or 4.84%, to $68.84 after a USDA WASDE report showed lower-than-expected 2011/2012 corn ending stocks. 

Shares of Citigroup, Inc. (NYSE: C) rallied 96 cents, or 2.61%, to close at $37.77. On Thursday, Citigroup reported a data breach of roughly 3% -- or 210,000 -- of the bank's online accounts in North America. 

NYMEX crude oil for July delivery climbed $1.19, or 1.2%, to settle at $101.93 a barrel.

European stocks closed down. The UK FTSE rose 47.45 points, or 0.82% to 5,856.34. The German DAX and French CAC increased 1.41% and 1.06% respectively.

Asian stocks finished mixed. The Nikkei 225 rose 17.69 points, or 0.19%, to 9,467.15. The Hang Seng index of Hong Kong dropped 51.80 points, or 0.23%, to 22,609.83.

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