Banks Lead Stock Rally; Nasdaq Nears 3,000

By: Associated Press
By: Associated Press

New York, NY (AP) - Stocks are closing higher after applications for unemployment benefits hit a four-year low and retailers reported better February sales.

Banks dodged a big hit from the Greek debt crisis and rallied Thursday to lead the market higher. A markets panel ruled that Greece's plan to restructure its debt should not trigger any bond-insurance payments yet.

JPMorgan Chase and Bank of America were among the top gainers in the Dow Jones industrial average. The Dow rose 28 points to 12,980, a gain of 0.2 percent.

The S&P 500 index rose 8 points, or 0.6 percent, to 1,374.

The Nasdaq rose 22 points, or 0.7 percent, to 2,989.

More than two stocks rose for every one that fell on the New York Stock Exchange. Trading volume was slightly light at 3.9 billion.

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  • by Gerry Location: Tallahassee on Mar 2, 2012 at 03:42 AM
    I didn't make the posts at 5:20 PM or 8:09 PM. Do you think posting week after week with another's handle is a sign of real anger, possibly even rage? I doubt it's meant to be funny. I doubt fake Gerry tells very many people what he is doing. Would you?
  • by Gerry on Mar 1, 2012 at 05:09 PM
    The other Gerry made the post at 0518 two minutes before my real post because the black helicopters told me too
  • by Gerry on Mar 1, 2012 at 02:20 PM
    Gold and silver strong gains today and the paper market will be updated shortly.
  • by Gerry Location: Tallahassee on Mar 1, 2012 at 02:18 PM
    As of 17:00 ET, Mar 1, the US borrows for 10 years at 2.03%. Total US national debt on 2/29/12 = $15.489 trillion. On 1/20/09 = $10.627 trillion. On 1/20/01 = $5.728 trillion. Increase in total national debt during Obama's administration = $4.862 trillion. During George W. Bush's administration = $4.899 trillion. Source for debt info =
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