NEW YORK (AP) — U.S. stocks are broadly higher in morning trading Thursday following a three-day losing streak. Energy companies climbed after being beaten down over the past several days. Eight of the 10 sectors of the Standard & Poor’s 500 index rose.
KEEPING SCORE: The Dow Jones industrial average rose 130 points, or 0.7 percent, to 17,621 as of 11:25 a.m. Eastern time. The S&P 500 rose nine points, or 0.5 percent, to 2,057. The Nasdaq composite increased 20 points, or 0.4 percent, to 5,043.
RUMPLED: Men’s Warehouse plunged $4.28, or 23 percent, to $14.11 after reporting earnings per share that was half what financial analysts expected, according to FactSet. The struggling clothes chain is down 68 percent since the start of 2015.
SUNBURN: First Solar dropped $5.28, or 9 percent, to $53.57 after the solar energy company released earnings and a forecast that disappointed investors.
DATA WATCH: Applications for unemployment benefits in the U.S. rose last week, but the number of Americans seeking aid remains close to historic lows. The report comes a week before a Federal Reserve meeting that is expected to raise interest rates from a record low.
ENERGY: The price of crude oil fell to a seven-year low. Benchmark U.S. crude dropped 25 cents, or 0.3 percent, to $36.91 a barrel in New York.
REVAMP: Glencore jumped nearly 8 percent in London after the mining giant said it was ahead of schedule in cutting its debt. Miners are struggling with a slump in commodity prices due to slower growth in China.
EUROPE DOWN: Britain’s FTSE 100 fell 2 percent and France’s CAC 40 dropped 1.3 percent. Germany’s DAX fell 0.9 percent.
CENTRAL BANKS: New Zealand’s central bank cut interest rates for the fourth time in six months, but it also signaled that it is not planning further cuts as inflation is expected to rise. Analysts said it was the latest sign that many central banks in developed countries are preparing to end their monetary easing.
ASIA’S DAY: Japan’s Nikkei 225 finished 1.3 percent lower and Hong Kong’s Hang Seng slipped 0.5 percent. Australia’s S&P/ASX 200 shed 0.8 percent. China’s Shanghai Composite index dropped 0.5 percent.
BONDS, CURRENCIES: U.S. government bond prices fell slightly. The yield on the 10-year Treasury note rose to 2.23 percent from 2.21 percent late Wednesday. The dollar rose to 121.50 yen from 121.19 yen. The euro fell to $1.0937 from $1.1028.
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