Stocks Waver, a Day After Biggest Rally in 2 Years

By: Associated Press
By: Associated Press

New York, NY (AP) - Stocks are closing mixed, a day after the market
posted its biggest gain in two and a half years.

Another rise in applications for weekly unemployment benefits
dampened the mood Thursday. Costco, Nordstrom and other retailers rose after reporting stronger sales.

The Dow Jones industrial average fell 26 points, or 0.2 percent,
to close 12,020.

The Dow soared 490 points Wednesday, its seventh-best gain on
record, after central banks around the world slashed the cost of
borrowing money as a way to shore up European banks.

The S&P 500 dropped 2 points, or 0.2 percent, to 1,245. The
Nasdaq rose 6 points, or 0.2 percent, to 2,626.

Three stocks fell for every two that rose on the New York Stock
Exchange. Trading volume was below average at 3.8 billion.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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