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- The Dow Jones industrial average was higher on Thursday, with reports of two oil tankers pushing up oil prices.
- Lululemon Athletica (LULU) jumped after surpassing expectations of first quarter earnings and sales and its outlook for the year. Lululemon Athletica is the stock of the day in real money.
- Shares of Tyson Foods (TSN) rose after the meat and poultry producer announced that it was preparing to launch its first series of protein-based, vegetable-based products.
Wall Street: overview
Inventories rose but slowed on Thursday as oil prices rose following reports of oil tanker attacks in the Gulf of Oman.
The Dow Jones Industrial Average rose 72 points, or 0.28%, to 26,077, the S & P 500 0.29% and the Nasdaq 0.45%.
US Secretary of State Mike Pompeo on Thursday accused Iran of being responsible for the attacks on Kokuka Courageous and the Altair Front.
"Iran is angry because the regime wants our successful maximum pressure campaign to be lifted," said Pompeo. "No economic sanctions authorize the Islamic Republic to attack innocent civilians, to disrupt the world oil markets and to make nuclear blackmail."
The Japanese owner of Kokuka Courageous told CNN that the 27,000-ton tanker had been attacked "by some kind of shell" off Fujairah, a port of the United Arab Emirates. The ship suffered damage to her starboard hull. A second tanker, the Altair Front, suffered a fire as a result of an explosion while he was sailing in the Gulf of Oman, reported CNN. Washington has accused Tehran of being behind a similar attack against four oil companies in the same region last month.
Thursday's gains were, however, limited as investors were still worried about the lack of a trade deal between the United States and China.
"Nothing particularly new on the trade front except for more difficult discussions from Chinese leaders who suggest not to give in to US pressure," LPL Financial Research said in a newsletter. "Expectations for a breakthrough at the G20 summit later this month may have faded a bit, though indications that the two leaders will meet in Japan and the president's refusal Trump to impose a strict deadline for new tariffs can be interpreted positively. "
HR (HR) increased nearly 18.3% to $ 112.29 after the retailer, formerly known as Restoration Hardware, raised its revenue and earnings guidance after profit first quarter, which largely beat the Wall Street forecast.
The Alibaba group (BABA) fell slightly to $ 160.02, following multiple media reports that the online retail giant has asked for a Hong Kong list of up to $ 20 billion.
In the economic news, initial claims for state unemployment benefits increased by 3,000 to 222,000 seasonally adjusted for the week ended June 8, the Department of Labor said. Data from the previous week have been revised to indicate 1,000 more requests received compared to previous reports. Economists surveyed had forecast fewer than 216,000 requests last week.
"The report on jobless claims was 222,000, slightly more than the 216,000 expected by economists, and the previous reading of 218,000 was revised to 219,000," said David Madden, market analyst. at CMC Markets UK. "This announcement did not provoke much excitement given the strength of the labor market, with monthly prices for imports and exports falling 0.3% and 0.2% respectively.
Madden said falling prices could be a sign that domestic and foreign demand is down.
"In the light of all the discussions on the (Federal Reserve) that could reduce rates later this year," he said, "slightly negative economic reports could be seen as a sign that the US central bank is more likely to ease monetary policy ".
Broadcom semiconductor company (AVGO) is expected to publish its results after the market closes.
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