SmarTrend Market Close Wrap-up — June 2, 2011
November 1st, 2011 | 
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The major US equity indices were mixed following disappointing data and ahead of the monthly jobs report. The Labor Department reported that US applications for unemployment benefits fell slightly last week. Jobless claims fell to 422000, from an upwardly revised 428000 in the prior week. Economists had expected claims to drop to 418000 in the week ended May 28. New orders for manufactured goods decreased 1.2% in April to a seasonally adjusted 0.4 billion, down from an upwardly revised to 5.8 billion in March, the Commerce Department said today. That was a 3.8% increase over February. Excluding the more volatile transportation sector, which was down 9.3% in the month, new orders fell 0.2%. In corporate news, SAIC Inc (NYSE:SAI) reported Q1 EPS of .36 today, beating theconsensus estimate for .33 per share. Revenues for the quarter grew 2% year-over-year to .69 billion, coming in just under the consensus estimate for .71 billion. The Dow Jones Industrial (DJI) closed 0.34% lower at 12248.55, the S&P500 (INX) closed 0.12% lower at 1312.94, and the Nasdaq Composite (IXIC) closed 0.15% higher at 2773.31.
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