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Stocks Gain Some Ground

Business

0  Updated at 3:29 pm, September 27th, 2012 By: ABC Digital
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Hemera/Thinkstock(NEW YORK) — Stocks gained some ground Thursday, despite a mixed read on the economy.

The Dow closed up 72.46 points at 13,485.97. The Nasdaq added 42.90 points to close at 3,136.60. The S&P earned 13.83 points, closing at 1,447.15.

In a hopeful sign for job hunters, the number of first-time jobless claims hit a nine-week low last week.  Analysts warn, though, that it may be just a blip. The market is still volatile, and we could see a jump next time around.

Meanwhile, the housing industry’s made some real gains to build upon, but the current home sales report isn’t one of them. The National Association of Realtors says pending home sales fell 2.6 percent in August.

Oil closed at $91.85, up $1.87 in New York trading Thursday. 

The price stuck to higher levels during Prime Minister Netanyahu’s speech at the United Nations, warning that Iran could complete a nuclear bomb by the summer. Seems oil traders may also have been reacting to the news.

Prices had generally been lower in recent days.

Copyright 2012 ABC News Radio


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