Market Snapshot July 9, 2009, 4:40PM EST

Stocks Edge Higher

Market players Thursday weighed better than expected readings on weekly jobless claims and May wholesale sales

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U.S. stocks closed slightly higher Thursday in thin trading. Rebounds in technology, financial, commodity and other recently battered groups offset weakness in the health care sector. rading was choppy, with the market wavering on both sides of unchanged during the session.

Alcoa (AA), which kicked off the second-quarter corporate earnings season late Wednesday, fell 2.4% despite posting better-than-expected results. Weekly jobless claims and May wholesale inventory figures had little impact on trading.

On Thursday, the 30-stock Dow Jones industrial average finished higher by 4.76 points, or 0.06%, at 8,183.17. The broad Standard & Poor's 500-stock index was up 3.12 points, or 0.36%, at 882.68. The tech-heavy Nasdaq composite index added 5.38 points, or 0.31%, to 1,752.55.

The dollar index fell, helping gold prices to rise. Energy futures were mixed. Treasuries fell.

The market was awaiting data Friday on the May U.S. trade deficit, June import prices, and the University of Michigan consumer sentiment survey for July. The reports were not likely to show much improvement, according to S&P.

On Thursday, Target Corp. (TGT) said it expects second-quarter earnings per share (EPS) to meet or exceed the current median FirstCall estimate of $0.64. Target reported 6.2% lower June same-store sales and 2.6% lower total sales.

3Com Corp. (COMS) shares slumped after the company posted fourth-quarter non-GAAP EPS of $0.07, vs. $0.07 one year earlier (including option expense) despite an 8.2% sales drop.

Shares of American International Group (AIG) were sharply lower Thursday following a Financial Times report that AIG was in talks with MetLife (MET) to sell its Alico unit.

Shares of YRC Worldwide (YRC) jumped Thursday after the trucking concern said it had reached a tentative agreement with the International Brotherhood of Teamsters (IBT) leadership to modify the terms of the current labor agreement for its employees covered by the National Master Freight Agreement. The proposed changes are designed to reduce the company's cost structure and preserve operating capital.

Citigroup (C) announced its biggest management shake-up since the financial crisis began, replacing its chief financial officer and installing a new banking chief as it prepares to give the government a 34 percent equity stake. Reuters reports the changes come as Chief Executive Vikram Pandit faces heavy pressure to improve performance and shed unwanted assets after Citigroup got a series of government bailouts and posted $36 billion of losses in the six quarters ended March 31. Edward "Ned" Kelly, who became chief financial officer in March, will become a vice chairman focused on strategy and merger activity. The new CFO will be John Gerspach, who has been controller and chief accounting officer. He will be Citigroup's fifth CFO in five years.