Dow Jones News: Cisco Stock Surges; 3M Suffers Double-Digit Sales Decline
The stock market was volatile on Thursday, declining early, recovering, then declining again. The Dow Jones Industrial Average (DJINDICES: ^DJI) was down around 0.3% at 11:30 a.m. EDT.
The U.S. Labor Department reported that another 2.98 million Americans filed unemployment claims in the week ended May 9, worse than expected. Since mid-March, about 36.5 million Americans have filed for unemployment benefits amid the novel coronavirus pandemic.
Cisco Systems (NASDAQ: CSCO) was the Dow's top performer on Thursday, boosted by a quarterly report that wasn't as bad as expected. Meanwhile, shares of 3M (NYSE: MMM) slumped after the company disclosed a double-digit sales decline for April.
Source Fool.com
