This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Stock Market Today: Stocks Unable to Sustain Gains

NEW YORK (TheStreet) -- The major U.S. stock markets were fading following Thursday's strong start. The basic materials, health care, and consumer cyclical sectors were all underperforming and the S&P 500 once again flirted with its 100-day moving average.

The overall mood on Wall Street earlier Thursday got a boost from signs that U.S. jobless claims trended lower. The Labor Department said that initial jobless claims dropped by 14,000 to a better-than-expected 289,000 last week and the four-week claims average fell to its lowest level since February 2006.

Read More: Will Gold's Recent Rally Last -- or Will It Evaporate?

The Dow Jones Industrial Average was falling 0.07% to 16,431.75, while the S&P 500 was ticking down 0.05% to 1,918.86.The Nasdaq was slipping from its intraday high, up just 0.12% to 4,360.15.

Earnings reports from CBS (CBS) and games maker Zynga (ZNGA) are expected after the market close as the earnings season begins to wind down. Zynga is expected by analysts on Thursday to report second-quarter break-even earnings on sales of $191.2 million. CBS is forecast to report second-quarter profit of 71 cents a share on revenue of $3.24 billion.

Read More: Aug. 7 Premarket Briefing: 10 Things You Should Know

21st Century Fox (FOXA) reported on Wednesday better-than-expected fiscal fourth-quarter earnings a day after it called off its pursuit of rival media giant Time Warner (TWX). Shares of Fox were surging 6.34% to $34.39. Duke Energy (DUK) was up 2.41% to $71.52 following the company's strong second-quarter earnings, highlighted by an 80% jump in profit due to favorable weather and a lower tax rate.

Sprint (S) recovered Thursday after the third-largest U.S. wireless carrier dropped its bid to merge with fellow carrier T-Mobile (TMUS - Get Report). Sprint was up 1.52% to $5.99.

Read More: Stock Market Today: S&P 500 Finishes Above 100-Day Moving Average as Financials Lead

--By Andrea Tse in New York

Follow @AndreaTTse

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
S $5.33 1.10%
TMUS $34.42 0.32%
AAPL $132.72 1.90%
FB $82.71 1.40%
GOOG $563.00 -0.36%

Markets

DOW 18,143.77 +63.63 0.35%
S&P 500 2,125.19 +7.50 0.35%
NASDAQ 5,118.1670 +26.0820 0.51%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs