Small caps shed losses
The Russell 2000 (NYSE:IWM) has unexpectedly shed its earlier losses and moved into positive territory. At 1:16 p.m. ET, the small-cap index was up 3.42 points, or 0.48%, to 715.69. The Dow Jones Industrial Average had added 57.57 points, or 0.46%, to 12,663.40.
Investors suddenly became bullish at about 12:35 p.m. ET, pushing stocks small and large into the green. Wall Street was seeing red in the first half of the session following news before the opening that jobless claims for the week ended March 29 unexpectedly rose to the highest level in more than two years, according to the U.S. Labor Department.
Equities got some relief on news after the start of trading that the U.S. service sector contracted less than expected in March.
Among the winners is nutritional supplements maker Mannatech Inc. (Nasdaq:MTEX). The Coppell, Texas-based company announced this morning that it is launching a new product to keep skin youthful.
Elsewhere, shares of Isramco Inc. (Nasdaq:ISRL) have soared a stunning 60% on news after the close on Wednesday that the oil and gas exploration company has purchased properties in five states for a total of $102.9 million.
