Ahead of the meeting, Spain raised €2.52 billion ($3.3 billion) in three- and five-year bonds, just above the top end of its targeted range of €1.5 billion to €2.5 billion. But borrowing costs at the auction rose given the deep concerns about the Spanish economy.
The Hang Seng Index in Hong Kong shed 0.3%. The Japanese market is closed Thursday and Friday for national holidays.
In corporate news, Dow component Kraft Foods (KFT) dipped less than 1% ahead of its first-quarter results then reported an operating profit of 57 cents a share for the March-ended period on revenue of $13.09 billion after the closing bell. Analysts were calling for earnings of 56 cents a share on revenue of $13.05 billion.
Costco Wholesale (COST), the warehouse retailer, said its same-store sales rose 4% in April. Total sales rose 7% to $7.25 billion. The stock closed down 2.2%.Kensey Nash (KNSY), a medical-devices company, agreed to be acquired by Dutch high-performance materials maker Royal DSM for $38.50 a share. The cash bid, which has been approved by the Kensey Nash board, is a 33% premium to Kensey Nash's closing price of $29.01 on Wednesday. Share of Kensey Nash soared more than 30%. Buyout firm Carlyle (CG) made its public debut on Thursday, pricing its IPO below expectations at $22 per share. The stock closed up a nickel. In commodity markets, the June crude oil contract was off $2.67 to settle at $102.54 a barrel. June gold futures were down by $13.20 to close at $1,634.80 an ounce. The benchmark 10-year Treasury slipped 2/32, lifting the yield to 1.936%. The dollar index was up 4 cents at 79.22.
2012 Stock Predictions and Outlook
|Your one-stop shop for 2012 stock recommendations and market predictions.
>To contact the writer of this article, click here: Andrea Tse.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV