Gains for US Stocks; Youth Financial Confidence Low
(NEW YORK) -- Despite the release of a dull weekly jobs report, the markets managed to yield some gains Thursday.
While the Dow closed up 181 points, the Nasdaq added 39. The S&P closed Thursday trading with a 19-point gain.
The latest jobs report showed the number of applicants seeking unemployment benefits climbed to its highest level in nearly two months -- a sign that a recovery in the job market may be slow. The Labor Department says weekly unemployment benefit applications jumped to a seasonally adjusted 380,000. The previous week's figures were also revised higher.
Looking ahead, the 18-and-under set is worried about more than finding a prom date. A new survey by Junior Achievement and the Allstate Foundation found that financial confidence for this age group is in the tank. Only about half of the respondents think they'll be as well off as their parents are.
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