Stocks bounced back from Wednesday's sharp selloff but gave back some gains after comments from President Donald Trump. Fred Katayama reports.
Energy and financial stocks helped pull Wall Street higher Wednesday. But stocks gave back some of their gains after President Donald Trump said he would be prepared to "act alone" if China doesn't step up to prevent a crisis with North Korea. Technical analyst Mark Newton of Newton Advisors: SOUNDBITE: MARK NEWTON, CHIEF TECHNICAL ANALYST, NEWTON ADVISORS, (ENGLISH) SAYING: "The move today is due to Treasury yields starting to turn back higher. We've seen that affect financials in a positive light. Energy also has been one of the driving forces. As you know, crude oil bottomed last week right around $47." Comcast moving the needle on the S&P 500. Shares rose after the cable company said it'll enter the U.S. wireless business. It'll become the first big U.S. cable provider to do so when it offers its unlimited data plans by mid-year. L Brands shot sharply higher. Sales at the operator of Victoria's Secret and Bath and Body Works fell in March, but it was less than Wall Street had expected. Sunoco's stock jumped. The gas station operator and fuel supplier is selling the majority of its convenience stores and gas stations to the operator of 7-Eleven, 7&i Holdings, for about $3.3 billion. The labor market tightened. The number of people filing for jobless benefits recorded its biggest drop in nearly two years last week. European shares ended slightly higher on Thursday, led by utility and industrial stocks.