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Fly Intel: Wall Street's top stories for Thursday

Stocks opened sharply higher and tacked on gains throughout the morning. The market found a level by late morning and then went into drift mode, as it moved in a very narrow trading range the rest of the day. The strength was attributed to reports that the U.S. and China will restart trade negotiations after not speaking to each other for the past two months. The move was broad-based, but led by the Dow, which was helped by post-earnings advances for Walmart (WMT) and Cisco (CSCO). ECONOMIC EVENTS: In the U.S., initial jobless claims fell 2,000 to... -The Fly

JCPenney Crashes To Record Lows As Default Risk Soars

JCPenney shares are down over 20% this morning in the pre-market... ...trading below $2 for the first time in its almost 40 year history... ...after posting a wider-than-expected quarterly loss and disappointing sales. The struggling department-store chain, which has been without a chief executive since May, also lowered its forecast for the year, and now expect a loss. Chairman Ronald W. Tysoe gave an update on the CEO search in the earnings statement. “The process is going well and the Board has met with highly qualified candidates who have... -Zero Hedge

Fly Intel: Wall Street's top stories at midday

Stocks opened higher as concerns surrounding the Turkish economic crisis eased overnight. The averages opened in positive territory and lost most of their gains in the opening 30 minutes before reversing and moving back to session highs. The move is broad based as each of the major equity indices is higher by roughly 0.4%. Oil prices have bounced back as well with crude sporting a gain of 0.3%, but off its best levels from earlier. ECONOMIC NEWS: In the U.S., the July NFIB small business optimism index moved up 0.7 ticks to 107.9, another record high... -The Fly

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