Markets solid after drop in US jobless claims - 21 News Now, More Local News for Youngstown, Ohio -

Markets solid after drop in US jobless claims

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  • Agents raid suspected meth lab in North Jackson

    Agents raid suspected meth lab in North Jackson

    Friday, April 25 2014 1:51 AM EDT2014-04-25 05:51:10 GMT
    Authorities have been keeping an eye on a mobile home in Jackson Township ever since neighbors beganreportingsuspicious activity.OnThursday, agents from the Ohio Bureauof Criminal Investigationconverged on the residence inside Shepards Mobile Home park on Mahoning Avenue.Specialists dressed in protective gear were called in to safely remove toxicchemicals that authorities say can be used to make methamphetamine.Authoritiesarrested48-year-old Warren Seitz, who lives in the mobile home with his...More >>
    Authorities have been keeping an eye on a mobile home in Jackson Township ever since neighbors beganreportingsuspicious activity.OnThursday, agents from the Ohio Bureauof Criminal Investigationconverged on the residence inside Shepards Mobile Home park on Mahoning Avenue.Specialists dressed in protective gear were called in to safely remove toxicchemicals that authorities say can be used to make methamphetamine.Authoritiesarrested48-year-old Warren Seitz, who lives in the mobile home with his...More >>
  • Howland house fire claims second life

    Howland house fire claims second life

    Thursday, April 24 2014 10:42 PM EDT2014-04-25 02:42:25 GMT
    Authorities say the second victim of a Howland Township house fire has died.The Summit County Medical Examiner tells 21 News that 52-year-old Richard Noble died at the burn unit of Akron Children's Hospital just before 4:00 a.m. Thursday.Noble's mother, 80-year-old Naomi Smith died on Wednesday after fire broke out in the duplex they shared on Pegotty Drive.Investigators are still trying to determine the cause of the deaths, but authorities believe both likely succumbed to smoke inhalation.Th...More >>
    Authorities say the second victim of a Howland Township house fire has died.The Summit County Medical Examiner tells 21 News that 52-year-old Richard Noble died at the burn unit of Akron Children's Hospital just before 4:00 a.m. Thursday.Noble's mother, 80-year-old Naomi Smith died on Wednesday after fire broke out in the duplex they shared on Pegotty Drive.Investigators are still trying to determine the cause of the deaths, but authorities believe both likely succumbed to smoke inhalation.Th...More >>
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    Ohio Bureau of Criminal Investigation to head hostage probe at Trumbull jail

    Ohio Bureau of Criminal Investigation to head hostage probe at Trumbull jail

    Thursday, April 24 2014 10:40 PM EDT2014-04-25 02:40:12 GMT
    WARREN, Ohio – The “pod” inside the Trumbull County jail where three inmates held a guard hostage sits untouched since the five hour ordeal ended on Wednesday. More >>
    WARREN, Ohio – The “pod” inside the Trumbull County jail where three inmates held a guard hostage sits untouched since the five hour ordeal ended on Wednesday. More >>

LONDON (AP) - The mood in financial markets remained buoyant Thursday after an improvement in weekly jobless claims figures in the U.S. and as the main Wall Street stock indexes eyed new highs.

On Wednesday, both the S&P 500 and the Dow Jones hit all-time closing highs, giving a positive tone to trading in Asia and Europe. The indexes continued their march higher on Thursday, adding another 0.3 percent each.

A 42,000 drop in weekly U.S. jobless claims to 346,000 maintained the upbeat mood as U.S. trading got underway. The surprisingly big fall came after a run of disappointing jobs figures that had raised concerns over the pace of the U.S. economic recovery.

Jennifer Lee, senior economist at BMO Capital Markets, said the weekly fall suggests the "generally improving trend in the job market is continuing."

In Europe, the FTSE 100 index of leading British shares rose 0.5 percent to close at 6,416.14 while Germany's DAX rose 0.8 percent to 7,871.63. The CAC-40 in France gained 0.9 percent higher at 3,775.56.

Over the coming days, the focus will increasingly turn toward U.S. companies as they report first-quarter earnings. So far, the results have been mixed. On Friday, bank earnings will be in the spotlight with updates from JP Morgan Chase & Co. and Wells Fargo Bank.

Investors are also hoping that progress will be made in Washington toward a 2014 federal budget. President Barack Obama proposed a $3.8 trillion plan on Wednesday. Without a budget agreement, a huge array of government spending cuts - known as sequestration - will remain in place. Some economists believe the cuts are hurting growth and employment.

The solid tone in stock markets has helped shore up other supposedly riskier assets, such as the euro, which was trading 0.4 percent higher at $1.3122. The dollar shed some of its recent gains against the Japanese yen, trading 0.2 percent lower at 99.57 yen.

Japanese financial assets have been in the spotlight over the past week or so.

The Nikkei 225 in Tokyo jumped nearly 2 percent to close at 13,549.16, riding a wave of enthusiasm for the Bank of Japan's aggressive new approach to stimulating the world's third-largest economy out of a prolonged slump. That new approach has piled pressure on the yen. Just before the Bank of Japan's announcement, the dollar was trading at a little over 92 yen.

Elsewhere in Asia, South Korea's Kospi added 0.7 percent to 1,949.80, even though the Bank of Korea disappointed some analysts by keeping its key interest rate at 2.75 percent. Some were expecting the central bank would lower the rate to spark borrowing and help the economy.

In the commodity markets, oil prices were subdued, with the benchmark New York rate down $1.37 at $9.27 a barrel. More interest was on the price of gold, which slid 1.7 percent on Wednesday on speculation that Cyprus will sell 400 million euros of the precious metal as part of its financial bailout. On Thursday, an ounce of gold was up 0.4 percent at $1,565.70.

However, Julian Jessop, head of commodities research at Capital Economics, said there's plenty of room for the price of gold to rise, even if the Federal Reserve starts slowing down its stimulus program. That program has been adding to the amount of money in the financial system over the past few years, pushing some investors to buy gold as a reliable store of value.

Even gold sales from other eurozone are unlikely to significantly weigh on market prices, he said.

"If the crisis elsewhere in the eurozone escalates to the point where other, larger countries were desperate enough to consider selling their own gold, demand for safe havens would surely be so strong that there would be plenty of willing buyers - even at higher prices," said Jessop.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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    The Scrappers host “POPS at the Ballpark” featuring the Youngstown Symphony Orchestra

    The Scrappers host “POPS at the Ballpark” featuring the Youngstown Symphony Orchestra

    Tuesday, April 15 2014 2:04 PM EDT2014-04-15 18:04:57 GMT
    NILES, Ohio – The Mahoning Valley Scrappers and the Youngstown Symphony Orchestra are excited to host one of the Valley's premiere summer events, POPS at the Ballpark,More >>
    NILES, Ohio – The Mahoning Valley Scrappers and the Youngstown Symphony Orchestra are excited to host one of the Valley's premiere summer events, POPS at the Ballpark, presented by Stanley E. Shearer with Northwestern Mutual and 21 WFMJ on Saturday, August 23, 2014 at Eastwood Field.More >>
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  • Restaurant plans new statue of Joe Paterno

    Restaurant plans new statue of Joe Paterno

    Wednesday, April 23 2014 12:57 PM EDT2014-04-23 16:57:56 GMT
     (AP) - Fans of the late Penn State University football coach Joe Paterno are planning to commission a new bronze statue of him, and place it across from the school. Organizers say the statue will feature Paterno sitting on a bench reading. It's expected to cost about $300,000 and would hopefully be done in 2015 by Philadelphia sculptor Zenos Frudakis. Penn State spokeswoman Lisa Powers says the school isn't involved in the plan. But a restaurant owner in downtown State Col...More >>
     (AP) - Fans of the late Penn State University football coach Joe Paterno are planning to commission a new bronze statue of him, and place it across from the school. Organizers say the statue will feature Paterno sitting on a bench reading. It's expected to cost about $300,000 and would hopefully be done in 2015 by Philadelphia sculptor Zenos Frudakis. Penn State spokeswoman Lisa Powers says the school isn't involved in the plan. But a restaurant owner in downtown State Col...More >>
  • Woman allegedly sold heroin from hospital bed

    Woman allegedly sold heroin from hospital bed

    Wednesday, April 23 2014 11:01 AM EDT2014-04-23 15:01:45 GMT
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    A woman in western Pennsylvania is accused of selling heroin from a hospital intensive care unit and a hospital room.More >>
  • Jet stowaway undetected for hours before departure

    Jet stowaway undetected for hours before departure

    Tuesday, April 22 2014 11:44 PM EDT2014-04-23 03:44:25 GMT
    Surveillance cameras at San Jose International Airport successfully captured the teenager on the tarmac, climbing up the landing gear of a jet. But in the end, the cameras failed because no one noticed the security...More >>
    A 15-year-old stowaway who survived a flight over the Pacific in a jet's wheel well spent seven hours undetected in what is supposed to be a highly secure area of San Jose International Airport before the flight...More >>
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    Can an app save the planet?

    This startup's Earth Day launch has a massive goal: Cut carbon emissions globally. It has its work cut out for it.
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  • 'Captain America' holds onto top box office spot

    'Captain America' holds onto top box office spot

    Monday, April 21 2014 10:47 PM EDT2014-04-22 02:47:39 GMT
    LOS ANGELES (AP) - Captain America really is unbeatable - at least at the box office"Captain America: The Winter Soldier" has been the top draw at theaters for three consecutive weeks, vanquishing would-be foes including the new thriller starring Johnny Depp.According to Monday's final box office figures, the Marvel sequel added $25.6 million in ticket sales over the weekend. "The Winter Soldier" has made more than $200 million domestically since logging the best April opening in history."Hea...More >>
    LOS ANGELES (AP) - Captain America really is unbeatable - at least at the box office"Captain America: The Winter Soldier" has been the top draw at theaters for three consecutive weeks, vanquishing would-be foes including the new thriller starring Johnny Depp.According to Monday's final box office figures, the Marvel sequel added $25.6 million in ticket sales over the weekend. "The Winter Soldier" has made more than $200 million domestically since logging the best April opening in history."Hea...More >>
  • Netflix poised to raise prices after strong 1Q

    Netflix poised to raise prices after strong 1Q

    Monday, April 21 2014 10:37 PM EDT2014-04-22 02:37:26 GMT
    SAN FRANCISCO (AP) - Netflix is preparing a sequel unlikely to be a hit with its subscribers. The Internet video service is about to raise its prices for the first time in three years to help pay for more Internet video programming such as its popular political drama "House of Cards."The increase, to take place sometime before July, will hike prices by $1 or $2 per month for new customers. The company's nearly 36 million current subscribers will continue to pay $8 per month for at least the n...More >>
    SAN FRANCISCO (AP) - Netflix is preparing a sequel unlikely to be a hit with its subscribers. The Internet video service is about to raise its prices for the first time in three years to help pay for more Internet video programming such as its popular political drama "House of Cards."The increase, to take place sometime before July, will hike prices by $1 or $2 per month for new customers. The company's nearly 36 million current subscribers will continue to pay $8 per month for at least the n...More >>
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