Dow Jones Rises as IBM Announces Major Spinoff, McDonald's Reports Positive U.S. Sales Growth
U.S. jobless claims barely improved at all for the week ended Oct. 3, declining just 9,000 to 840,000. While the U.S. economy is recovering from the pandemic-driven stay-at-home orders put into place earlier this year, job losses remain a big problem.
The not-so-great unemployment news wasn't enough to derail the stock market. The Dow Jones Industrial Average (DJINDICES: ^DJI) was up about 0.2% at 11:25 a.m. EDT, with International Business Machines (NYSE: IBM) the strongest performer. IBM announced a major spinoff, the biggest move yet from the tech giant to reposition itself for the cloud computing era.
Shares of McDonald's (NYSE: MCD) didn't fare as well, down slightly despite the company reporting U.S. sales growth and boosting its dividend.
Source Fool.com
