Summary
The Dow Jones industrial average rose 75.42 points, or 0.6 percent, to close at 12,124.36. The Standard & Poor's 500 index rose 9.44, or 0.7 percent, to 1,289.00. The Nasdaq composite rose 9.49, or 0.4 percent, to 2,684.87. Thursday's gains broke a six-day losing streak and marked the first time stocks rose in June. Stocks had dropped following poor reports on manufacturing, home sales, hiring and consumer confidence. It was the longest losing streak for the Dow Jones industrial average in over a year and the longest for the Standard & Poor's 500 index since February 2009.
The narrower trade deficit is a sign that goods from U.S. manufacturers are becoming more competitive in overseas markets. U.S. companies sold more computers, heavy machinery and telecommunications equipment abroad in April compared with the month before. Imports declined because fewer cars were bought from Japan after factories there were damaged by that country's earthquake and tsunami disaster. Companies that make farming machinery rose after the government reported that U.S. corn crops would be smaller this fall. That sent corn prices soaring and raised expectations that farm owners would be buying more agricultural equipment such as tractors. Both Deere & Co. and AGCO Corp rose 2.5 percent.See the full content of this document
Extract
Ticker, June 10
Oil climbed above $101 per barrel Thursday as investors focused on how the world would meet energy demand in coming months. Benchmark West Texas Intermediate crude fo...
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