Drop in jobless claims lift markets

An unexpected drop in first time applications for unemployment benefits lifted the markets to a higher close with the Dow climbing 56 points to 20,663. Nasdaq gained 43 points to 6,055.

On the upside

Leerink Partners upgraded Achillion Pharmaceuticals (Nasdaq: ACHN) from a Market Perform rating to an Outperform rating.

JPMorgan upgraded Clovis Oncology (Nasdaq: CLVS) from a Neutral rating to an Overweight rating.

Bargain hunters lifted shares of Baozun (Nasdaq: BZUN).

On the downside

First quarter earnings plunged for Stein Mart (Nasdaq: SMRT) as revenue fell.

Shares of Banco Santander (NYSE: BSBR), Companhia Energ├ętica de Minas Gerais (NYSE: CIG) and Gol Linhas (NYSE: GOL) all tumbled over news that Brazilian President Michel Temer may be involved in a bribery scandal.

Teekay Offshore Partners (NYSE: TOO) reported lower first quarter revenue.

The broader S&P 500 gained 8 points to 2,365. Bitcoin jumped $78 to $1838.

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