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The euro rose sharply against the dollar on Thursday, breaking above the $1.16 level and trading at its highest since August 2015 following comments from European Central Bank President Mario Draghi. Against the dollar, the euro hit a peak of $1.1631, and last traded at $1.1618 from $1.1515, a move of 0.9%. In a news conference, Draghi reiterated the ECB’s plan to buy 60 billion euros of government bonds and other assets each month through December, “or beyond, if necessary.” He also left interest rates unchanged, as had been widely expected. With the day’s move, the euro extended its strong year-to-date performance, rising 10.4% for 2017 thus far.

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The Dow Jones Industrial Average on Thursday was being chopped lower by sharp declines in a duo of components: Home Depot Inc. and Travelers Cos. Inc. . The pair were exacting a 50-point toll on the price-weighted Dow industrials . Home Depot’s shares alone were off 4%, and cutting more than 40 points from the blue chips, with shares of Travelers yanking the Dow down by about 15 points. The reasons for Home Depot’s decline was unclear, but it comes as embattled Sears Holdings Corp. soared 18% after announcing an agreement to sell its signature Kenmore appliances on Amazon.com Inc. . Wall Street investors may view that agreement as a direct challenge to Home Depot and other brick-and-mortar retailers, which sell similar home-consumer products. Meanwhile, Travelers shares were lower after it reported disappointing second-quarter results. The Dow was trading off 0.1% at 21,611, after notching a record on Wednesday. Overall, the S&P 500 index was trading flat at 2,473, after touching a fresh intraday record at the open, while the Nasdaq Composite Index was cooling, trading little changed at 6,376, following its own climb to a fresh all-time intraday high in early Thursday trade. All of the main U.S. equity indexes closed at records Wednesday.

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Data from the U.S. Energy Information Administration on Thursday showed that domestic supplies of natural gas rose by 28 billion cubic feet for the week ended July 14. Analysts surveyed by S&P Global Platts forecast a build of 31 billion cubic feet. Total stocks now stand at 2.973 trillion cubic feet, down 299 billion cubic feet from a year ago, but 141 billion cubic feet above the five-year average, the government said. August natural gas was up 4 cents, or 1.3%, from Wednesday’s settlement to $3.106 per million British thermal units. It was little changed from its pre-data levels.

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Attorney General Jeff Sessions said Thursday he loves his job and will continue in it as long as “appropriate,” a day after President Donald Trump made critical comments about him in an interview. Trump told the New York Times that he would not have appointed Sessions if the president had known he would recuse himself from the Russia investigation.

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U.S. stocks traded with a slight upward bias in early trading on Thursday, as positive corporate earnings and data boosted positive sentiment. The Dow Jones Industrial Average rose 9 points to 21,649, a rise of less than 0.1%. The S&P 500 added 2.8 points to 2,477, a rise of 0.1%. The Nasdaq Composite Index gained 12 points, or 0.2%, to 6,397. Both the S&P and the Nasdaq hit intraday records in early trading. In the latest news on the labor market, weekly jobless claims plunged, highlighting a labor market that has conveyed consistent signs of health. On the earnings front, T-Mobile US Inc. rose 3% after strong second-quarter results, while Dow component Travelers Inc. fell 2.3% after posting a drop in profits.

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Apple Inc.’s stock edged up 0.2% in premarket trade Thursday, which sets it up to post a 10th straight gain. The technology giant’s stock has had a 10-session win streak since the 10-day stretch ending Oct. 18, 2010. Qualcomm Inc. commentary late-Wednesday while reporting quarterly results suggests the chip maker’s patent dispute with Apple wasn’t likely to reach a settlement for at least a year, according to BMO Capital analyst Tim Long. Apple’s win streak comes as the Nasdaq 100 is also on track to post a 10th straight gain to another record, with e-mini Nasdaq 100 futures up 0.1% ahead of the open. Apple’s stock has rallied 30.4% year to date through Wednesday, while the Nasdaq 100 has run up 21.6% and the Dow Jones Industrial Average has climbed 9.5%.

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Shares of Nike Inc. ran up 2.3% in premarket trade Thursday, after the athletic apparel and accessories giant was upgraded at Morgan Stanley, which said headwinds and competitive pressures were waning. Analyst Jay Sole raised his rating to overweight from equal weight and his stock price target to $68, which is 18% above Wednesday’s closing price of $57.77, from $54. Sole said he has “increased conviction” in the company’s ability to grow North America sales to 5%, from the current decline of 2%, by mid-fiscal 2018. He said Nike’s supply chain benefits should accelerate over the medium term and that its operating model has competitive moats. “The opportunity to buy [Nike’s stock] at the bottom of a cycle is closing,” Sole wrote in a note to clients, with peers unable to emulate Nike’s operating model. The stock has fallied 13.7% year to date through Wednesday, while rival Under Armour Inc. shares have tumbled 29.5%, the SPDR Consumer Discretionary Select Sector ETF has climbed 12.1% and the Dow Jones Industrial Average has gained 9.5%.

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Barnes & Noble Education Inc. said Thursday that Michael Huseby has been named chief executive, effective September 19. He succeeds Max Roberts, who has announced his retirement, also effective on September 19. Huseby will also serve as board chairman. He’s been executive chairman of the board since 2015. Huseby has previously served as CEO of Barnes & Noble from January 2014 to August 2015. Barnes & Noble Education shares are up 1.8% in premarket trading, but down 32% for the year to date. The S&P 500 index is up 10.5% for 2017 so far.

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HealthSouth Corp. said Thursday it will pay a quarterly dividend of 25 cents a share, on Oct. 16 to shareholders of record on Oct. 2. That’s up a penny, or 4.2%, from the current quarterly dividend of 24 cents a share. Based on Wednesday’s stock closing price of $45.79, the post-acute health care services provider’s new annual dividend rate would imply a dividend yield of 2.18%, compared with the SPDR Health Care Select Sector ETF’s dividend yield of 1.45% and the S&P 500’s implied yield of 1.97%. HealthSouth’s stock, which was still inactive in premarket trade, has rallied 11.0% year to date, while the health care ETF has climbed 16.8% and the S&P 500 has gained 10.5%.

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From:: Stock Market News