MARKETS / FINANCE

Wall Street edged higher on Thursday on strong corporate earnings including Exxon Mobil and after a drop in weekly jobless claims offered a glimmer of hope for the anemic labor market recovery.

Exxon Mobil Corp reported a better-than-expected second-quarter profit on Thursday, as oil prices and margins to process crude into fuel rebounded from a year earlier and production rose.

New U.S. claims for unemployment benefits fell slightly more than expected last week, offering a ray of hope for the anemic labor market recovery.

Wall Street was set to open higher on Thursday, following two days of declines for the S&P 500, after weekly jobless claims fell, offering hope for the anemic labor market recovery.

A string of Europe's largest firms issued surprisingly upbeat profit reports on Thursday, bolstering an abrupt renewal of investor confidence in the region after months of debt turmoil and fears for the euro.

The euro hit an 11-week high against a broadly weak dollar on Thursday as month-end demand for the single currency helped push it above a key barrier. The euro remained supported by firm euro zone data, with figures on Thursday showing euro zone economic sentiment jumping to a 28-month high, while German unemployment declined for the 13th consecutive month.

Oil was steady at around $77 on Thursday after falling the previous day on weak durable goods data and the biggest weekly increase in crude inventories for nearly two years in the United States. U.S. crude stocks surged 7.31 million barrels last week as imports jumped, government statistics showed on Wednesday, while the nation's gasoline and distillate stocks including diesel gained for the fifth and ninth consecutive weeks respectively.

Gold firmed in Europe on Thursday as some buyers were tempted back to the market by the precious metal's fall to three-month lows, while the weaker dollar also helped support prices. European investment remained lackluster as risk appetite sharpened, however, while the world's largest gold-backed exchange traded fund reported a hefty outflow on Wednesday.

New U.S. claims for unemployment benefits fell slightly more than expected last week, government data showed on Thursday, offering a ray of hope for the anemic labor market recovery.

Platinum supply is set to suffer setbacks in the coming months with two major producers facing problems in South Africa.

Is it the best time to invest in gold, the hottest commodity in the world? Gold price has been moving up for the last several years and investors have been making money out of the yellow metal.

Euro zone economic sentiment rose strongly in July, buoyed by figures from Germany that point to a recovery as the currency area overcomes the sovereign debt crisis, but the outlook remains uncertain.

Motorola Inc posted quarterly earnings and revenue that beat Wall Street expectations driven by products such as mobile network equipment, sending its shares up 1 percent.

Stock index futures rose on Thursday following two days of declines for the S&P 500 after upbeat European economic data and ahead of an expected drop in U.S. jobless claims.

Wall Street futures pointed to a firmer start for equities, after gains in Europe. The Dow closed lower in the previous session on weak durable goods data and a downbeat assessment of the economy from the Fed's Beige Book.

Wall St futures pointed to a firmer start for equities, after gains in Europe. The Dow closed lower in the previous session on weak durable goods data and a downbeat assessment of the economy from the Fed's Beige Book.

Robust quarterly earnings from Europe drove world stocks higher on Thursday, while the dollar hit a three-month low on the back of weak U.S. data and a downbeat assessment of the economy from the Federal Reserve.

Consumers report the primary obstacle in selling unwanted gold jewelry is confusion about their gold's true value. Lack of knowledge about the weight of their gold and strange terms like pennyweights (dwt), grams and troy ounces, confuse and intimidate many potential gold sellers.

The United States will suffer high unemployment for some time as it slowly recovers from the deep recession that ended in 2009, a former second in command at the Federal Reserve said on Wednesday.

The Australian dollar has opened lower this morning following a bout of risk aversion trading overnight.

The Aussie's three-week ascent towards US90.50 came to an abrupt halt yesterday immediately after the release of the much-anticipated June quarter inflation data.

Visa Inc , the world's largest credit and debit card processing network, posted higher-than-expected quarterly profit on Wednesday, but analysts said new processing fee regulations could cut into future profits.

Sprint Nextel Corp said it lost fewer valuable contract customers in the second quarter than analysts expected, helped by its most advanced smartphone, the EVO from HTC Corp .

Visa Inc , the world's largest credit and debit card processing network, beat expectations with a quarterly profit of $716 million on Wednesday, as consumers resumed spending.

The U.S. Senate Banking Committee on Wednesday approved the nomination of three new members to the Federal Reserve's powerful board, including Janet Yellen for vice chairman, clearing the way for a final vote by the whole Senate.

New orders for long-lasting manufactured goods fell unexpectedly for a second straight month in June, posting the largest drop since August in a sign economic recovery cooled in the second quarter.

Goldman Sachs Group Inc and Citigroup Inc will sell a $788.5 million commercial mortgage-backed security, according to a term sheet sent to investors, in the largest deal of its kind since volume began crawling back after the financial crisis.

Shares of Research In Motion jumped on Wednesday on speculation that next week it would unveil a new touchscreen BlackBerry that could compete more effectively with Apple Inc's iPhone and other smartphones.

U.S. media companies are set to report revenue increases of 5 to 15 percent as they issue earnings reports over the next two weeks -- the best the industry has looked in at least two years.