Wall Street Stocks Close Higher
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iStockphoto/Thinkstock(NEW YORK) — Stocks closed higher on Wall Street Thursday after investors got a double dose of good news about the economy.
The Dow Jones Industrial Average rose 114 points on Thursday, closing at 15,024. It’s the third straight triple-digit gain for the blue chips index, though it’s still down slightly for the month.
The S&P 500 closed up nine points at 1,613, while the Nasdaq Composite jumped 25 points to 3,402.
Consumer spending rose last month as incomes increased, while claims for unemployment benefits fell last week — both signs the economy is strengthening.
U.S. mortgage rates quickly jumped from near-record lows. The average 30-year fixed soared this week to 4.46 percent.
Meanwhile, federal regulators have filed a civil lawsuit against former New Jersey Governor Jon Corzine for allegedly failing to properly manage MF Global, which misused customer funds before its collapse in 2011. The Commodity Futures Trading Commission wants Corzine banned from trading in the futures market and is demanding he pay unspecified penalties.
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