(MENAFN- ProactiveInvestors) After a weak start U.S. stocks edged slightly higher Thursday with the major U.S. averages on track to end the Easter-shortened week in positive territory.
As of noon in New York the Dow Jones Industrial Average was up 23 points at 17721 while the Nasdaq edged up 1 point to 4881 and the S&P 500 rose 4 points to 2064.
U.S. markets will be shut tomorrow for Good Friday. The government will still however release the all-important March employment report at 8:30am ET as scheduled.
Ahead of this investors got another read on the job market this morning when the Labor Department reported that jobless claims fell by 20000 to 268000 last week. Jobless claims were expected to edge up to 285000 from the pre-revised figure of 282000 in the previous week.
Meanwhile the U.S. trade deficit fell 16.9% to $35.4 billion in February the lowest since 2009 mainly reflecting cheaper oil. Also factory orders for February ticked up 0.2%.
The figures follow yesterday's weaker-than-anticipated data on private sector hiring and manufacturing which fueled speculation that the U.S. economy is slowing.
In corporate activity Europe's competition regulator is reportedly laying the groundwork to move antitrust charges against () in the next few weeks. Shares fell more than 1% on Thursday.
() after agreeing to sell itself to Heinz in a blockbuster deal last week has been charged along with Mondelez (NASDAQ:MDLZ) for manipulating wheat futures and cash prices by the U.S. Commodity Futures Trading Commission. The CFTC has accused the companies of making massive bets in Chicago's futures markets in late 2011 as part of a plot to drive down the physical price for wheat before the two companies split in 2012. Shares were down 0.6%.
McDonald's () is planning to give 90000 workers at its corporate-owned locations a more than 10% pay raise. The move excludes employees at the franchises which set their own wages.
In other news () said it plans to dispose of two of its oil rigs which will cost $90 to $110 million for the first quarter of 2015.
() will shut down its vaccine operations in China after regulators there did not renew an import license for its anti-bacterial treatment Prevenar the only vaccine it sells in that country.
() shares jumped more than 8% after the company reported on Thursday that its fourth-quarter profits surged 44% on strong sales.
() shares edged up after its fiscal second quarter earnings beat Street estimates last night though the company gave light guidance for its current quarter.
European markets ended mostly lower today after Athens handed the eurozone and IMF a more detailed plan for revising its bailout program as it looks to end its standoff with creditors. Investors were also wary ahead of the long weekend and non-farm payrolls data in the U.S. due out tomorrow. Asian markets ended higher on Thursday led by Japan's Nikkei which climbed 1.5%.
Oil futures were lower today retreating from big gains yesterday on the prospect that a nuclear deal with Iran could increase the country's exports and pressure crude prices. Iran's foreign minister said talks with the U.S. and five other nations have made "significant progress". Crude futures for May delivery in New York were down 66 cents at $49.41 a barrel. Gold futures fell $8 to $1200 an ounce.
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