Sunday, 1 January 2012

Stocks Go up on Thursday and Recover Some Losses

A slight recovery in the economy, better job growth prospects and encouraging news on home sales have buoyed stocks on Wall Street on Thursday. With just one day of trading left this year, Dow Jones Industrial Average went up 136 points nearly covering the lost ground of 140 points the day before. The Standard & Poor’s 500-stock index also rose to positive territory for 2011.

The encouraging factors included the four-week average of unemployment claims that plunged to a three-and-a-half year low indicating that hiring is slowly picking up, and the increase in the number of home sales in November that registered a more than 7 percent rise and reached its highest level in a year and a half.

The Dow registered a gain of 135.63 points, or 1.1 percent and it closed at 12,287.04. It is up 709 points, or 6 percent for the year. The S&P 500 Index went up 13.38 points, or 1.07 percent, to 1,263.02 going up just six points above where it started the year. There was a rise of 23.76 points, or 0.92 percent in the Nasdaq composite which reached 2,613.74.

The Treasury’s 10-year note rose 6/32, to 100 29/32. The yield fell to 1.90 percent, from 1.92 percent late Wednesday.

Original Post :  Stocks Go up on Thursday and Recover Some Losses

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