Stocks Up on New Home Deals, Job Growth Prospects

By: Associated Press
By: Associated Press

New York, NY (AP) - Better news on the job market and home sales sent stocks higher on Wall Street.

The four-week average of unemployment claims fell to a three-and-a-half-year low, an indication that hiring could pick up. Also the number of Americans who signed contracts to buy homes in November rose more than 7 percent to the highest level in a year and a half.

With just one day of trading left in 2011, the Dow Jones industrial average closed up 136 points, or 1.1 percent, at 12,287 Thursday.

The S&P 500 rose 13 points, also 1.1 percent, to 1,263. The Nasdaq composite index rose 24, 1 percent, to 2,614.

Volume on the New York Stock Exchange was 2 billion shares, half of its recent average. Gaining stocks led losing ones four to one.

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  • by Mary Anne Location: Valdosta on Dec 30, 2011 at 05:30 AM
    As much as the right wingers hate it, the economic recovery is taking place. Let's not go back to those policies that caused this in the first place. Thank you Mr. President. I'm proud to be an American. Are you?
    • reply
      by Anonymous on Dec 30, 2011 at 06:56 AM in reply to Mary Anne
      The economy is starting to recover because Congress is stalled, and has not allowed Obama to push any more stupid stimulus bills, or any other economy busting ideas that Obama seems to be supremely capable of coming up with. All Obama had to do was nothing and the economy would have recovered, but instead he spent money on things we didn't need and prolonged the recession.
      • reply
        by Independent Gurl on Dec 30, 2011 at 07:34 AM in reply to
        Complain, criticize, be hateful, and blame Obama. Oh, I forgot one, be the party of no. I'd hate to be married to you.
      • reply
        by Anonymous on Dec 30, 2011 at 11:07 AM in reply to
        AP story. Nuff said.
    • reply
      by Anonymous on Dec 30, 2011 at 07:07 AM in reply to Mary Anne
      Yes I am!
    • reply
      by Jack on Dec 30, 2011 at 11:06 AM in reply to Mary Anne
      The economy is not recovering! It's election time coming around and the media will say anything to help Obama get re-elected.
    • reply
      by Anonymous on Jan 7, 2012 at 10:37 PM in reply to Mary Anne
      Watch CNBC. Much of the increase in workers is attributed to seasonal employment. Contrast that with numeric data after this quarter. No, the recovery has not taken place. Housing, employment, etc...sectors are still not where they should be. Stop being emotive and catering to an agenda set up by others. You used the word "hate" not the rest of us. Best thing would be a new president who respects this nation, honors it's laws and does not play demi-god.
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