Themajor US equity indices closed higher Friday following optimism ahead of the weekend’s summit of European Union leaders. The Sunday summit will focus on a “comprehensive and ambitious” response to the debt crisis, with euro-zone leaders to adopt a plan at a second meeting, which is expected to take place no later than Wednesday. At a press conference, President Obama confirms withdrawal of troops in Iraq by year-end. Only about 150 troops, a minor force, will remain to assist in arms sales.

Themajor US equity indices closed mixed Thursday following some positive news from Europe. The Federal Reserve Bank of Philadelphia reported that manufacturing in the Philadelphia region showed signs of recovery in October. The index rose to 8.7 in October from negative 17.5 in September, which is the first positive reading in three months. The National Association of Realtors said sales of existing homes fell 3% in September, which reflects continued hard times in the housing market.

The major US equity indices closed lower Friday despite a better-than-expected report from the Labor Department. Employers added more payrolls than forecast in September, jobs gains were revised up in the previous two months, and hours and earnings increased, helping ease concerns the US labor market is weakening. Payrolls increased to 103000 after an adjusted 57000 climb the previous month according to the Department of Labor. In corporate news, Research in Motion (NASDAQ:RIMM) has acquired NewBay Software

The major US equity indices closed higher Thursday after a better-than-expected report on jobless claims and after the ECB said it would step up its efforts to bolster banks in the region. The Labor Department reported that applications for jobless benefits last week rose by 6000 to 401000 and the four-week average dropped to 414000. ECB President Jean-Claude Trichet spoke of increased downside risk to the region and said that the ECB would revive its purchases of covered bonds and resume yearlong loans for banks in an effort to inject liquidity in the financial system.

The major US equity indices closed lower Monday on continued concerns over Greece’s debt concerns, despite a better-than-expected report on strong US manufacturing activity The ISM said its manufacturing index rose to 51.6% in September from 50.6% in August. Economists had expected the index to be unchanged. The Commerce Department reported spending for construction projects rose 1.4% in August.

The major US equity indices closed higher Wednesday despite continued worries over Europe and a barrage of headlines coming out of the region. French, German and Greek leaders are scheduled to hold a conference call about steps to curb debt troubles. The Labor Department reported that US goods at the wholesale level were unchanged in August. The core producer price index rose 0.1% last month

Themajor US equity indices closed lower Friday after the European Central Bank confirmed the resignation of Governing Council member Jurgen Stark and on reports that Germany is discussing a contingency plan. Bloomberg reported that German officials are preparing a plan to recapitalize German banks. In corporate news, Lululemon Athletica (NASDAQ:LULU) reported Q2 EPS of $0.26, better than analyst estimates of $0.23 per share. Revenues for the quarter rose 39% to $212.3 million, better than consensus estimates of $206.36 million. Kroger (NYSE:KR) reported Q2 EPS of $0.46, better than analyst estimates of $0.43 per share.

Themajor US equity indices closed lower Thursday following disappointing economic data reports. The Labor Department reported that new applications for unemployment compensation dropped 12000 to 409000 in the week ended August 27. Economists had expected new requests for jobless benefits to fall to 405000. The Commerce Department reported that outlays for US construction projects fell 1.3% in July, which is the largest decline since January, missing consensus estimates for an increase of 0.3%

Themajor US equity indices closed higher Tuesday on hopes of further economic stimulus from the Federal Reserve. The Commerce Department reported that US sales of new homes fell 0.7% in July to a seasonally adjusted rate of 298000, which is the slowest pace since February. Sales reached 316000 in April before falling.

Themajor US equity indices closed lower Friday as investors remained focused on the European Union and its banks. The Labor Department reported that unemployment rose in 28 states, fell in nine, and remained unchanged in 13, which are nearly the same figures as in June. Earlier in the month, the government reported that hiring picked up slightly nationwide in July, with the economy adding 117000 jobs. Gold rose to a record above $1880 an ounce in New York. Gold for December delivery rose $27.60, or 1.5%, to $1849.60 on the Comex this morning, after touch $1881.40, the highest ever