The first day of October was a positive one for the stock market, as investors decided to put an optimistic spin on things. Even with a heightened level of first-time claims for unemployment benefits, market participants were pleased to see the number drop at least slightly from where it was a week earlier. Just before 11:30 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 104 points to 27,884. The S&P 500 (SNPINDEX: ^GSPC) gained 16 points to 3,379, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) climbed 102 points to 11,270.
Perhaps the most surprising news coming out of the market involved home goods retailer Bed Bath & Beyond (NASDAQ: BBBY) , whose stock soared after an upbeat report on business conditions. Meanwhile, energy stocks weren't nearly as lucky, as ExxonMobil (NYSE: XOM) dragged on the entire sector with a far more pessimistic assessment of its prospects.
Shares of Bed Bath & Beyond were higher by 33% Thursday morning. The home goods retailer's fiscal second-quarter results had far more good news than most investors had expected to see.
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Stock Market Today: Bed Bath & Beyond Surprises; Energy Stocks Fall on ExxonMobil Warning