Stocks start Thursday to the upside

 

After the open… Stocks were were higher after the open Thursday despite the morning's only significant economic data, initial unemployment claims for the week ended Aug. 9, coming in higher than expected. Initial claims were 311,000 last week, topping estimates for 305,000.

Industries trading higher this morning include distributors, paper and forest products and biotechnology. Trading lower this morning are  communications equipment, automobiles and real estate management and development.

The VIX is down 0.39% at 12.83 after closing yesterday at 12.90. Options on J.C. Penney (JCP) have appeared on the most-active list today with more than 10,816 contracts of the Aug. 8.50 put changing hands.  NYSE Adv/Dec 1,850/1,054 Nasdaq Adv/Dec 1,210/1,129. [InvestorsKeyhole, various news and data sources]

Bobby Raines

Bobby Raines

Bobby Raines is the Managing Editor of the Market Intelligence Center. He has degrees in Mass Communications and History from Emory & Henry College. Bobby worked at a mid-sized daily newspaper before making a switch to covering the financial industry full time in the years leading up to the financial crisis. He has been a member of the Fresh Brewed Media team since 2011 and has served as a writer and analyst. You can write to him at braines@marketintelligencecenter.com or follow him on Twitter: @BRatMICenter.

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