Slight declines for US stock indexes in early trading

The Dow climbed 121 points, or 0.7 percent, to 18,162. The Standard & Poor’s 500 index rose 19.28 points, or 0.9 percent, to 2,123.48 and the Nasdaq composite rose 73.84 points, or 1.5 percent, to 5,106.59.

International Monetary Fund chief Christine Lagarde, who was attending the G7 meeting, reportedly warned of the potential for a Greek exit of the 19-nation eurozone and said such a scenario wouldn’t be “a walk in the park” for the single-currency area.

Advancing issues outnumbered declining ones on the NYSE by 2,242 to 808, for a 2.77-to-1 ratio on the upside; on the Nasdaq, 1,927 issues rose and 845 fell for a 2.28-to-1 ratio favoring advancers.

Tiffany & Co’s shares jumped 10.5 per cent after the jeweler reported earnings and revenue fell less than expected in its first quarter as a key sales metric grew across nearly every region, despite the impact of a strong United States dollar.

Avago advanced 0.6 per cent on the deal, which will create a leader in the surging market for mobile devices like smartphones and tablets.

Big-box retailer Costco Wholesale fell 1.2 percent as revenues for the quarter ending May 10 came in at $25.52 billion, below the $26.63 billion forecast by analysts.

Meanwhile, the major European markets all moved notably higher on the day.

Meanwhile, financial services agency Cowen and Company hiked its 12-month price target on AAPL this week to $140 from $135 on robust iPhone 6 sales outlook.

Reports that Athens and its creditors were near a deal pushed the euro higher against the dollar, partly reversing the recent moves.

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However, Shanghai plunged on Thursday after a more than 15 per cent surge in the past eight sessions. The rebound has brought indexes closer to their previous record levels, suggesting positive momentum.

The Nikkei 225 ended 0.4 percent higher to 20,551.46, another 15-year high. E-mini futures on the Nasdaq-100 shed seven points, or 0.2%, to 4535. It had fallen 190 points on Tuesday. Hong Kong tracked the losses, sinking 2.23 per cent, or 626.90 points, to 27,454.31. The company could cut more than 5,000 jobs by next year, according to Dow Jones.

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