Housing Data Pushes Stocks Higher


0  Updated at 10:29 pm, April 26th, 2012 By: ABC Digital
Share This Story

Ben Hider/Getty Images(NEW YORK) — A lackluster weekly jobless report didn’t do much to stop the markets Thursday. Encouraging news on home sales seemed to help stocks along.
The Dow closed up 114 points Thursday, while the Nasdaq and the S&P gained 21 points and nine points, respectively.
This week’s jobs numbers aren’t that bad, but they could be better, according to some analysts. First time jobless claims fell by 1,000 this week to 388,000, leaving the figures stuck at a three-month high — a sign that hiring could be slowing. Analysts had expected new jobless claims to come in at 376,000.
The National Association of Realtors says the number of people who signed contracts for homes rose to its highest level in nearly two years. Cancellation of sales contracts continues to be a drain on the market, though, with many prospective buyers unable to qualify for mortgages.

Copyright 2012 ABC News Radio

Stories You May Be Interested In:

Volkswagen executive arrested in emissions scandal

9 Jan 2017

Aaron Smith and Evan Perez, CNM

Ringling Brothers circus to close after 146 years

14 Jan 2017

EastIdahoNews.com staff

Jakers Bar and Grill coming to Pocatello

12 Jan 2017

Magdala Louissaint, KPVI