Better Economic Reports, Sales Send Stocks Higher 9/5/13
NEW YORK - Stocks are slightly higher on Wall Street after some positive news about the U.S. jobs market and higher sales from major store chains.
Costco and Walgreen's reported stronger sales last month, beating analysts' forecasts.
The number of Americans seeking unemployment benefits dropped 9,000 last week to a seasonally adjusted 323,000, near the lowest level since June 2008. The figure shows that employers are laying off fewer and fewer workers.
A private survey shows that American businesses added 176,000 jobs in August, fewer than in June and July but roughly in line with the monthly average for the year.
Orders to U.S. factories fell in July by the sharpest amount in four months, held back by weaker demand for commercial aircraft and heavy machinery. A key category that reflects business investment plans also fell.