(NEW YORK) — The stock market alternated between declines and gains all session before calling it a day on the plus side.
The Dow closed up 60 points, or 0.5 percent, at 13,311.72. The Nasdaq gained six points, and closed at 3,050.39. The S&P added eight points to close at 1,443.69.
First-time jobless claims rose last week by 17,000, reversing four weeks of declines. The less volatile four-week average fell by 14,000.
Sales of existing homes jumped by almost six percent in November to the highest number in years. It’s the latest sign that the housing market — one of the economic sectors hit hardest by the recession — is truly on the mend.
The Commerce Department says the nation’s economy grew at a stronger annual rate in the latest quarter than estimated a month ago. The Gross Domestic Product has been revised to 3.1 percent for the third quarter.
Copyright 2012 ABC News Radio
Paul R. La Monica, CNN
Jackie Wattles, CNN
Parija Kavilanz, CNN