Thursday, June 4, 2009
Cautious traders are placing small bets on signs of improvement in the economy.
Stocks are moderately higher Thursday after the number of workers continuing to receive unemployment benefits unexpectedly fell for the first time in 20 weeks.
The drop, while small, provided investors a nugget of hope that unemployment could be easing. The data also arrived a day ahead of the government's monthly tally of job losses.
Retail sales reports from May were mixed, keeping buying in check. But bank stocks are rising after several analysts raised their ratings on Goldman Sachs Group Inc. and KeyCorp.