Tag - Hott

Small cap stock indices climbed higher on Thursday, thanks to news including an acquisition and better-than-expected results from retailers and a rising star tech company.

But the holiday-shortened week is headed towards a rocky finish, as Friday morning's report on the June employment data was discouraging about the pace of the U.S. economic recovery.

The two leading small cap indices easily outperformed the large caps again on Thursday.

The Russell 2000 Index closed the day up 1.52 percent, while the Standard & Poor's Small Cap 600 Index finished with a 1.39 percent increase. By comparison, the Dow Jones Industrial Average ended the day 0.74 percent higher, the S&P 500 was up 1.05 percent, and the Nasdaq Stock Market finished with a 1.36 percent gain.

Hot Topic Inc (Nasdaq:HOTT), Hovnanian Enterprises Inc (Nasdaq:HOV), Smart Modular Technologies Inc (Nasdaq:SMOD) and Xenoport Inc (Nasdaq:XNPT) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Beazer Homes USA Inc (Nasdaq:BZH), Western Refining Inc (Nasdaq:WNR), Compellent Technologies Inc (Nasdaq:CML), Ameris Bancorp (Nasdaq:ABCB) and Strategic Hotels and Resorts (Nasdaq:BEE).

Hot Topic Inc (Nasdaq:HOTT), Beazer Homes USA Inc (Nasdaq:BZH), Dialysis Corp America (Nasdaq:DCAI) and Hovnanian Enterprises Inc (Nasdaq:HOV) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Sequnom Inc (Nasdaq:SQNM), Xenoport Inc (Nasdaq:XNPT), Callon Pete Co (Nasdaq:CPE), China Agritech Inc (Nasdaq:CAGC) and Energy Conversion Devices Inc (Nasdaq:ENER).

ARCA biopharma Inc. (Nasdaq:ABIO), Hot Topic Inc. (Nasdaq:HOTT) and Drew Industries Inc. (Nasdaq:DW) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Patriot Coal Corp. (Nasdaq:PCX), Providence Service Corp. (Nasdaq:PRSC), Texas Industries Inc. (Nasdaq:TXI), AnnTaylor Stores Corp. (Nasdaq:ANN), Heritage Commerce Corp. (Nasdaq:HTBK) and BPZ Resources Inc. (Nasdaq:BPZ).

Tessera Technologies Inc.(Nasdaq:TSRA), Hot Topic Inc.(Nasdaq:HOTT) and Canadian Solar Inc.(Nasdaq:CSIQ) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Solarfun Power Holdings Co Ltd.(Nasdaq:SOLF), Paragon Shipping Inc (Nasdaq:PRGN), Century Aluminum Co.(Nasdaq:CENX), Kirklands Inc.(Nasdaq:KIRK), Eagle Bulk Shipping Inc.(Nasdaq:EGLE) and Citi Trends Inc.(Nasdaq:CTRN).

Optimer Pharmaceuticals Inc. (Nasdaq:OPTR), Hot Topic Inc. (Nasdaq:HOTT) and SIGA Technologies Inc. (Nasdaq:SIGA) are among the new 52-week highs in Wednesday's trading among companies with market capitalizations under $1 billion.

Kirklands Inc. (Nasdaq:KIRK), ICF International Inc. (Nasdaq:ICFI) and Neutral Tandem Inc. (Nasdaq:TNDM) are among the new 52-week highs in Friday's trading among companies with market capitalizations under $1 billion.

Sourcefire Inc. (Nasdaq:FIRE), KongZhong Corp. (Nasdaq:KONG) and Kirklands Inc. (Nasdaq:KIRK) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Quigley Corp. (Nasdaq:QGLY), Hot Topic Inc. (Nasdaq:HOTT), Louisiana Bancorp Inc. (Nasdaq:LABC), SIGA Technologies Inc. (Nasdaq:SIGA), Computer Programs And Systems Inc. (Nasdaq:CPSI) and Force Protection Inc. (Nasdaq:FRPT).

AsiaInfo Holdings Inc. (Nasdaq:ASIA), ImmunoGen Inc. (Nasdaq:IMGN) and Monro Muffler Brake Inc. (Nasdaq:MNRO) are among the new 52-week highs in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Neutral Tandem Inc. (Nasdaq:TNDM), Hot Topic, Inc. (Nasdaq:HOTT), Kirklands Inc. (Nasdaq:KIRK), SXC Health Solutions Corp. (Nasdaq:SXCI), America Service Group Inc. (Nasdaq:ASGR) and Santa Monica Media Corp. (Nasdaq:MEJ).

hhgregg Inc. (Nasdaq:HGG), Theravance Inc. (Nasdaq:THRX) and Hot Topic, Inc. (Nasdaq:HOTT) are among the new 52-week highs in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Optimer Pharmaceuticals Inc. (Nasdaq:OPTR), American Italian Pasta Co. (Nasdaq:AIPC), ArcSight Inc. (Nasdaq:ARST), Monro Muffler Brake Inc. (Nasdaq:MNRO), Neutral Tandem Inc. (Nasdaq:TNDM) and Ocwen Financial Corp. (Nasdaq:OCN).

Village Super Market Inc. (Nasdaq:VLGEA), Ocwen Financial Corp. (Nasdaq:OCN) and Hot Topic, Inc. (Nasdaq:HOTT) are among the new 52-week highs in Thursday's trading among companies with market capitalizations under $1 billion.

Computer Programs And Systems Inc. (Nasdaq:CPSI), Zhongpin Inc. (Nasdaq:HOGS) and Sequenom Inc. (Nasdaq:SQNM) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Rambus Inc. (Nasdaq:RMBS), TBS International Ltd. (Nasdaq:TBSI), LHC Group Inc. (Nasdaq:LHCG), Hot Topic, Inc. (Nasdaq:HOTT), GMX Resources Inc. (Nasdaq:GMXR) and Zions Bancorp (Nasdaq:ZION).

ESB Financial Corp. (Nasdaq:ESBF), Hot Topic, Inc. (Nasdaq:HOTT) and Scopus Video Networks Ltd. (Nasdaq:SCOP) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $1 billion.

Anadys Pharmaceuticals Inc (Nasdaq:ANDS), American Italian Pasta Co (Nasdaq:AIPC) and Ocwen Financial Corp (Nasdaq:OCN) are among the new 52-week highs in Friday's trading among companies with market capitalizations under $1 billion.

Small-cap stocks pushed higher Thursday, boosted by talk that the Obama stimulus plan and his measures to help banks could include a provision to suspend the “mark-to-market” accounting provision that many say hurts financial balance sheets. In addition, tech stocks and retailer shares showed surprising strength that allowed the market to look past sobering economic data on the employment and factory orders front. The tech-laden Nasdaq 100 Index rose 2.4% on the day, while the Russell 2000 (NYSE:IWM) closed up 6.60, or 1.47%, at 455.08 and is now down 8.8% for the year. Meanwhile, the Dow is off 8.1% for the 2009, while the S&P 500 is down 6.3%.

Critics of the mark-to-market accounting procedure say that it forces firms to write-down losses on unrealized assets, which in turn bloodies the bottom line prematurely. However, proponents of the accounting process say it helps avert disasters like the Enron debacle. President Obama is slated to hold a press conference Monday evening to rollout his stimulus plan to the world in an effort to build momentum to get the $800 billion package pushed through a divided political landscape.

It was encouraging to see the stock market grind out a positive session today, especially in the face of disheartening data on weekly unemployment claims and slumping factory orders. The claims report came in at 626,000, which was way above the projected figure and also at 26-year highs. What’s more, the number of Americans forced to file for continuing unemployment benefits rose to 4.78 million, the highest number in history. Having a record number of people on the unemployment rolls the day before the monthly Labor Department employment report seemed quite daunting this morning, but the market quickly embraced the accounting talk and looked past the data.

Also on the economic front, the factory orders report tumbled 3.9%, . . .

Ocwen Financial Corp. (Nasdaq:OCN), Optimer Pharmaceuticals Inc. (Nasdaq:OPTR) and Life Partners Holdings Inc. (Nasdaq:LPHI) are among the new 52-week highs in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Lannett Co Inc. (Nasdaq:LCI), Village Super Market Inc. (Nasdaq:VLGEA), Citizens Inc. (Nasdaq:CIA), SXC Health Solutions Corp. (Nasdaq:SXCI), Hot Topic, Inc. (Nasdaq:HOTT) and American Bancorp of New Jersey Inc. (Nasdaq:ABNJ).

LHC Group Inc. (Nasdaq:LHCG) and Hot Topic Inc. (Nasdaq:HOTT) are the new 52-week highs on Monday's session.

Hot Topic, Inc (Nasdaq:HOTT), Central European Media Enterprises Ltd (Nasdaq:CETV) and Diamond Foods Inc (Nasdaq:DMND) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: AeroVironment Inc (Nasdaq:AVAV), ATP Oil & Gas Corporation (Nasdaq:ATPG), II VI Inc (Nasdaq:IIVI), Questcor Pharmaceuticals Inc (Nasdaq:QCOR), ViroPharma Inc (Nasdaq:VPHM) and Silver Standard Resources Inc (Nasdaq:SSRI).

Here are the most actively traded companies among small caps:

Hot Topic, Inc. (Nasdaq:HOTT), Questcor Pharmaceuticals Inc. (Nasdaq:QCOR) and Stoneleigh Partners Acquisition Corp. (Nasdaq:SOC) are the new 52-week highs in Wednesday's trading among companies with market capitalizations under $1 billion.

Hot Topic Inc. (Nasdaq:HOTT) is the sole 52-week high on Tuesday's session.

Small-cap stocks extended the morning slide into midday trading, as pressure from a weak economy continues to take a toll on commodity, retail and financial stocks, overshadowing even aggressive rate cuts out of Europe overnight. At 12:04 p.m. ET, the Russell 2000 (NYSE:IWM) was down 10.28, or 2%, at 504.36.

There really was no safe place to park money today, with equities taking a big hit, Treasury products lower and even commodities in negative territory. The Brazilian president said that the worst of the global financial crisis has now passed, but the market didn’t seem to heed his remarks, with the Brazilian stock market sinking some 3.5% into their afternoon trading time frame. Brazil is a major commodities exporter, and has taken an extra hit as commodity prices collapsed along with stocks in recent weeks.

The economic malaise continued to bruise commodity markets, with crude oil prices tumbling toward $60 a barrel, or the lowest prices since March. The IMF said that developed economies were on track for a full-year contraction for the first time since World War II, and energy exporters that depend on demand from big consumers were taking a beating, with the Energy Select Sector SPDR Fund down 5.5%.

Here in the United States a weak tone for the day was forged overnight when tech bellwether Cisco Systems Inc. (Nasdaq:CSCO) beat the earnings forecast for the third quarter but warned that fourth quarter revenue could decline for the first time in years. CSCO was down about 2.2%, but now actually lagging overall declines in the Nasdaq 100 and in the Dow and S&P 500, so clearly there were other problems bigger than just CSCO.

Retailer shares were a mixed bag today as monthly same-store sales results were pouring in. However, the overall read was gloomy, with the S&P Retail Index down about 1.7%. While there were individual bright spots like small-cap firm Hot Topic Inc. (Nasdaq:HOTT), which was up 12% as sales climbed 8.3%, there were also plenty of disappointments such as Ann Taylor Stores Corp. (NYSE:ANN), which tumbled 25% as the women’s apparel specialist said it would slash jobs and cut costs . . .

Small-cap stocks opened lower, but quickly trimmed losses as enthusiasm fueled by another round of global rate cuts helped soothe the sting of yet another sobering batch of economic reports.  Today’s small-cap gainers are inVentiv Health (Nasdaq:VTIV), Global Crossing (Nasdaq:GLBC) and Colonial Bankshares (Nasdaq:COBK).

Other Market Watch highlights today included:

• The latest batch of monthly same-store sales reports are coming out could influence the retail sector in general throughout the day.
• The sobering weekly claims report that was released today shows that Americans aren’t just losing jobs, they are struggling to find new ones too.  
• At 9:51 a.m. ET, the Russell 2000 (NYSE:IWM) was down 0.74, or 3.83%, at 510.81.  
• The Bank of England stunned the market with a very aggressive rate cut of 150 basis points, pushing benchmark rates there to the lowest point in 53 years.
• The most numbing stat from this morning’s data was that the number of continuing claims rose 122,000 last week to 3.84 million, the highest level in more than 25 years. 

Small Cap Gainers:

• inVentiv Health Q3 profit declines; reaffirms FY08 revenue guidance. Shares are soaring 43%. See (Nasdaq:VTIV).  
• Shares of Global Crossing up over 18% as the company maintains outlook, sees Q3 sales rise 12%. See (Nasdaq:GLBC).  
• Colonial Bankshares up 18% on higher-than-average volume. See (Nasdaq:COBK).
• H&E Equipment Services Inc. jumped 14% on solid earnings news. See (Nasdaq:HEES).  
• Small-cap retailer Hot Topic reported same-stores sales rose 8.3% and raised guidance. Shares were up 8.6% this morning. See (Nasdaq:HOTT).

Small Cap Losers:

• Lakes Entertainment Inc. slumped 29%, plunging a day after earnings and also as a casino referendum in Ohio was defeated. See (Nasdaq:LACO).  
• Entertainment software company THQ posts big 2Q loss, plans 250 layoffs. Shares down 25% in pre-market. See (Nasdaq:THQI).  
• Shares of Citi Trends down 9% in pre-market after the company announces Q3 sales. See (Nasdaq:CTRN).  
• Abercrombie & Fitch's Oct. comparable store sales decline 20%; shares trade over 7% lower in pre-market. See (NYSE:ANF).  

Small-cap stocks opened lower, but quickly trimmed losses as enthusiasm fueled by another round of global rate cuts helped soothe the sting of yet another sobering batch of economic reports. At 9:51 a.m. ET, the Russell 2000 (NYSE:IWM) was down 0.74, or 3.83%, at 510.81.

The weekly claims report came in at 481,000, which was below the forecast of 475,000 and which included an upward revision for last week’s figure as well. The most sobering figure on the claims report was the continuing claims number, which was pegged at 3.84 million, the highest level in more than 25 years. Americans aren’t just losing jobs, they are struggling to find new ones too.

The weekly claims data often gets extra emphasis right in front of a monthly employment report, and neither the weekly claims figure or the ADP survey Wednesday have raised hopes for a bullish surprise on the monthly jobs report Friday morning. Just this morning, analysts at Goldman Sachs raised their projection for the decline in non-farm payrolls to 300,000 from 250,000 (the market consensus is minus 180,000). Goldman also was looking for the unemployment rate to climb to 6.4%, a jump of 0.3% from last month.

The market did gather some support from aggressive rate cuts overnight in Europe, with the Bank of England slashing rates by a whopping 150 basis points, which put their benchmark rates at the lowest point in some 53 years. In addition, the European Central Bank lowered rates by 50 basis points, and even the Swiss National Bank lowered rates. ECB President Jean-Claude Trichet said that the central bank will do what is needed to restore financial stability

Tech stocks paced early declines this morning, powered by a somber outlook . . .

Small-cap stocks edged lower Thursday, unable to overlook a dramatic rally in crude oil prices and ongoing concerns about financial stocks. The Russell 2000 (NYSE:IWM) closed down 6.35, or 0.8%, at 725.25 and is now down 5.3% for the year. Small caps lagged the performance in the Dow and S&P 500, but were on a similar track to the Nasdaq Composite for much of the day. The Dow gained 0.1%, and is down 13.8% for 2008, while the S&P 500 was up 0.2% and is down 12.9% on the year.

The big story today was the energy market, with crude oil prices soaring some $5 dollars, or more than 5% a barrel back above the $120 barrier, while generating the largest one-day gain in about two months. If previous price action was any indicator, the stock market starts to get very queasy when crude oil prices rise above $130 dollars a barrel. When Goldman Sachs reiterated its call this week for $149 crude by year’s end, it sent shivers through consumer goods stocks, which stand to get the short end of the consumer stick if everyone has to start paying more than $4 a gallon at the pump — especially if food price inflation kicks into gear.

The Commodity Research Bureau Index went absolutely nutty Thursday, jumping 3.7%. This index of 19 physical markets covers more than just the energy component, and the rise in commodity prices today wasn’t just a one-trick pony. For instance, coffee was up 6%, sugar was up 3%, cotton was up 2.7%, silver shot up 5%, gold was up nearly 3% and copper jumped some 4%. The market has been trying to shrug off recent inflation reports on consumer and producer prices as “dated” pointing to the sharp slide off the highs in crude oil prices, but with commodities back on the prowl, it might make it more difficult to explain away the data next time around.

A big component of the surge in commodities on Thursday was tied to a sudden reversal in fortune for the U.S. dollar. The mighty buck had been on an impressive bullish charge in recent days, soaring to multi-month highs against the yen, pound sterling, the euro and a host of other currency markets, but went into a tailspin today, tumbling some 1.1% against the yen and over 0.9% versus the euro. Many of the world’s commodity markets — including crude oil — are priced in dollar . . .

Hot Topic, Inc. (Nasdaq:HOTT), Republic Airways Holdings Inc. (Nasdaq:RJET) and Mothers Work Inc. (Nasdaq:MWRK) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.           

Also included among the results: Met-Pro Corp. (Nasdaq:MPR), PowerSecure International Inc. (Nasdaq:POWR), Gateway Financial Holdings Inc. (Nasdaq:GBTS), Transcat Inc. (Nasdaq:TRNS), Integral System Inc. (Nasdaq:ISYS) and Innovative Solutions and Support Inc. (Nasdaq:ISSC).     

Here are the biggest percentage losers among small caps:  

A spike in crude combined with a depreciating dollar, financial sector woes and disconcerting economic data sunk small caps lower on the session midday.

At 12:12 p.m. ET, the Russell 2000 (NYSE:IWM) was down 5.98, or 0.82%, to 725.62, while the Dow had sold off 35.83, or 0.31%, to 11,381.60.

After stabilization within the $115 range, oil has broken out in a volatile spike, climbing almost $6 a barrel, as a weaker dollar and jitters that bubbling contention with Russia over its penetration of Georgia could disrupt oil deliveries. With oil's spike the market sold off further, as a rise in the commodity means greater inflation, crippled profits for businesses and usurped consumer spending power.

While oil climbed the greenback sold off against both the euro and the yen. “The U.S. dollar [has] tank[ed] on the soft data along with the rise in oil,” Andy Busch, foreign exchange strategist for BMO Capital Markets said in an email. “With a firm bottom in oil at $112 and continued focus on GSEs, the dollar has peaked.”

The financial sector has yet again brought the broader market down, as Citigroup slashed its earnings outlook for Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS) and Lehman Brothers (NYSE:LEH). Fear of a collapse in government-sponsored enterprises Freddie Mac (NYSE:FRE) and Fannie Mae (NYSE:FNM) continue to enrapture equities, as the market speculates the government is near to bailing them out.

Lehman Brothers has sold off on reports from the Financial Times that Korean and Chinese investment groups have backed away from taking a stake in the embattled Wall Street brokerage/banking firm. Additionally, the Wall Street Journal is reporting today that the Federal Reserve is said to have called Credit Suisse in July to ascertain if it had indeed yanked a line of credit from Lehman Brothers in response to a rumor. If indeed the Fed did do this, its actions only serve to confirm the rampant fears in the market.

Shares of Hot Topic, Inc. (Nasdaq:HOTT) are getting trounced after the mall retailer issued third-quarter earnings guidance after Wednesday’s close a penny shy of the Street and disseminated fourth-quarter earnings projections below to inline with analysts’ mean estimate. The earnings guidance, which is based on a decline in comparable store sales in the low-single digits, stole the limelight from the company’s narrowed second quarter loss.

Shares swooned 17%, or $1.16, to $5.71 in morning trading. For more detailed price information and stories on Hot Topic, click HOTT. 

Small-cap stocks reversed course Thursday, pulling back into the recent range as the credit crisis moved to the forefront, punishing financial stocks. The selling mood was also stirred by soft economic data and worries about consumer spending after sluggish sales at benchmark retailer Wal-Mart Stores (NYSE:WMT). In the end, the Russell 2000 (NYSE:IWM) shed 12.48, or 1.72%, to 713.42.

Large-cap financial stocks were getting hammered in the afternoon today, extending a gloom that began after Wednesday’s close when insurance giant American International Group (NYSE:AIG) reported hefty quarterly losses amid write-downs of bad mortgage loans. The whole mess with AIG rekindled fears about the credit crunch and investors dumped shares in a wide swath of financial names. AIG tumbled some 18% on the day. The nation’s top bank, Citigroup Inc. (NYSE:C) stumbled amid news that the firm would buy back some $7 billion in auction-rate securities and pay a $100 million civil fine to settle a suit that it misled investors on the risk of the investments. Citigroup lost about 6% on the day. Merrill Lynch & Co. (NYSE:MER) lost 8%, Lehman Bros. Holdings, Inc. (NYSE:LEH) tumbled 13%, JP Morgan Chase Co. (NYSE:JPM) was down 4% and mortgage finance firms Fannie Mae (NSE:FNM) and Freddie Mac (NYSE:FRE) were down 14% and 9%, respectively. The Financial Select SPDR was down 5%--and it’s not as if those declines are limited to the large-cap banks and brokerage houses. There are dozens of small- and mid-cap banks out there, and they have even more trouble accessing credit during the crunch than the big firms.

As you might expect...

Citi Trends (Nasdaq:CTRN), Hot Topic (Nasdaq:HOTT) and Royale Energy (Nasdaq:ROYL) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $1 billion.        

Also included among the results: Hoku Scientific (Nasdaq:HOKU), Computer Task (Nasdaq:CTGX), Almost Family (Nasdaq:AFAM), Synta Pharmaceuticals (Nasdaq:SNTA), Commonwealth Bankshares (Nasdaq:CWBS) and ENGlobal (Nasdaq:ENG).       

Here are the most actively traded companies among small caps:  

Small-cap stocks took flight Thursday, soaring in response to strong chain store sales, and a bullish surprise on weekly unemployment claims. The Russell 2000 (NYSE:IWM) shot up 19.55, or 2.63%, to 763.26, the highest daily close of the year.

In the process, the Russell stormed through key long-term resistance at 750, a point that had been difficult to tackle in recent weeks. That area represented a 50% Fibonacci retracement of the entire bear market collapse, and sets the stage for a rally toward the final key retracement of 61.8%, which is near 775. The market could pause near 760, which is a logical chart-related resistance area on the way toward 775. A weekly close above 750 after jobs Friday would be an important benchmark within the ongoing rally off the March lows.

The strong performance was impressive in front of Friday’s employment report, which suggests that shorts were no longer willing to risk losing trades in front of the big release, and that new longs were comfortable taking on positions ahead of the jobs event.

The catalyst for today’s rally appeared to center on surprisingly stout monthly chain-store sales results. Apparently gasoline pump prices near $4 dollars a gallon didn’t stop consumers from heading out to the store to unload some of their tax rebate money from Uncle Sam. With the U.S. economy heavily dependent on spending for momentum, a show of strength from retailers is a welcome sign to the market.

Among retailers, discounters like Costco (Nasdaq:COST) and Wal-Mart (NYSE:WMT) had particularly impressive results, with Costco comp sales up 9% in May and Wal-Mart up 3.9%. Wal-Mart’s stock embraced the news, surging 3.5% to four-year highs. Costco was up 3.4%. And it wasn’t just a large-cap story on the retailer front. Small-caps Hot Topic Inc. (Nasdaq:HOTT) jumped some 16% as sales at the pop culture apparel and accessories store came in much better than feared. Also, Cache Inc. (Nasdaq:CACH) rose about 14% as sales at the specialty women’s apparel store . . .

Small-cap stocks pushed higher on the opening, supported by better-than-expected weekly unemployment claims numbers and solid May chain store sales figures. However, the market was still on edge about the re-emergence of credit crunch jitters and, to some degree, simply marking time before Friday’s big jobs report. At 9:52 a.m. ET, the Russell 2000 (NYSE:IWM) was up 5.91, or 0.79%, at 749.62.

The weekly claims report headline figure came in at 357,000, which was much better than the forecast of 375,000. Typically, the weekly claims data is a minor blip on the numbers agenda, but with the monthly employment report on tap Friday, investors had a little extra interest in the numbers this week. Also, the ADP payroll figures were surprisingly strong Wednesday, which raises hope that Friday’s big jobs release could carry a bullish surprise.

Chain store sales results have been pouring in this morning, sporting solid numbers for discounters in particular. Costco (Nasdaq:COST) same-store sales in May were up 9% and Wal-Mart (NYSE:WMT) reported a 3.9% rise in sales. Costco shares were up 1.9% after the opening, while Wal-Mart was up about 1.8%.

Investors are expected to keep a close watch on financial stocks again today, particularly Lehman Bros. (NYSE:LEH), which is at the eye of the latest credit crunch storm. Lehman Bros. shares were up 2.5% in early trading today. Federal Reserve vice chairman Donald Kohn is testifying about the banking system this morning before the Senate, Banking, Housing and Urban Affairs Committee.

The dollar relinquished overnight gains against the euro and is now down about 0.6% against that currency unit, but was still up nearly 0.8% versus the yen. A strong dollar should keep pressure on various commodity markets, and is seen as supportive to stocks at this stage of the economic cycle.

Speaking of commodities, crude oil prices were pushing higher into the stock market opening in line with the rise in the euro against the dollar, but were still well off the recent record highs and not that far away from four-week lows. The recent slide in energy prices has provided a little breathing room for airlines, which also stand to benefit from an analyst upgrade overnight on United Airlines (Nasdaq:UAUA) and Northwest Airlines (NYSE:NWA). United Airlines was up 6.8% after the . . .