Stocks Break Losing Streak
Published at | Updated at
iStockphoto/Thinkstock(NEW YORK) — Stocks snapped a string of losings sessions on Thursday. The Dow Jones Industrial Average closed up 55 points at 15,328.30. The Nasdaq Composite added 26 points to close at 3,787.43. The S&P 500 rose 6 points, finishing the session at 1,698.67.
The number of people filing claims for unemployment benefits continues to shrink. The Labor Department says applications fell 5,000 last week to a seasonally-adjusted 305,000, the second-lowest level in six years.
The Commerce Department says the economy grew at a rate of two and a half percent from April to June. That’s an improvement over the first quarter’s 1.1-percent growth.
Mortgage rates have been rising lately, and that may make some people wait to buy a home. The National Association of Realtors says the number of signed contracts dropped last month.
Copyight 2013 ABC News Radio