(As of 7:20 am PST)
US
stocks trimmed early gains Thursday and now trade near the unchanged line as
investors geared up for another earnings heavy day. Economic data is light
today, however a report on weekly jobless claims showed claims for last week plummeted
to the lowest level since 1973. Economists warned not to read too much into the
report as weekly data, particularly in July, is historically volatile. Market
activity should be driven by earnings today as several big names are expected
to report including General Motors, McDonalds, Starbucks, Caterpillar, and
Amazon, who is set to report after the closing bell today. In overseas action,
Asian markets finished mixed while European stocks are heading lower towards
the close as Greece approved a second set of austerity measures ahead of
official bailout talks with its creditors. Gold and oil are bouncing back today
while interest rates and the US dollar are flat.
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