NEW YORK (AP) — An unexpected decrease in unemployment claims is sending stocks higher even as a stalemate continues in Washington over how to avoid a U.S. debt default.
The government said first-time applications for unemployment benefits fell to 398,000 last week, the lowest level in four months. That's a sign that employers are laying off fewer workers.
The Dow Jones industrial average is up 75 points, or 0.6 percent, at 12,377 in midday trading Thursday. The index fell the previous four days over worries that the U.S. might default on its debt next week if Congress doesn't raise the country's borrowing limit.
The Standard & Poor's 500 index is up 11, or 0.8 percent, at 1,316. The Nasdaq composite index is up 33, or 1.2 percent, at 2,798.
source :http://news.yahoo.com/jobs-report-pushes-stocks-despite-debt-worries-134148300.html;_ylt=AmkYE_7j5.qcsc0dUWBdle.s0NUE;_ylu=X3oDMTM5bTl0Z3Y0BHBrZwNiOWI4NGFlMS1kOWE0LTM5Y2QtYTI0OS0zY2ExNWUxY2U3ZWQEcG9zAzEEc2VjA01lZGlhVG9wU3RvcnkEdmVyA2Q0ZTA3MjEwLWI5MzEtMTFlMC05OWVhLTkwYzJhNzUwZTM3OA--;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3
The government said first-time applications for unemployment benefits fell to 398,000 last week, the lowest level in four months. That's a sign that employers are laying off fewer workers.
The Dow Jones industrial average is up 75 points, or 0.6 percent, at 12,377 in midday trading Thursday. The index fell the previous four days over worries that the U.S. might default on its debt next week if Congress doesn't raise the country's borrowing limit.
The Standard & Poor's 500 index is up 11, or 0.8 percent, at 1,316. The Nasdaq composite index is up 33, or 1.2 percent, at 2,798.
source :http://news.yahoo.com/jobs-report-pushes-stocks-despite-debt-worries-134148300.html;_ylt=AmkYE_7j5.qcsc0dUWBdle.s0NUE;_ylu=X3oDMTM5bTl0Z3Y0BHBrZwNiOWI4NGFlMS1kOWE0LTM5Y2QtYTI0OS0zY2ExNWUxY2U3ZWQEcG9zAzEEc2VjA01lZGlhVG9wU3RvcnkEdmVyA2Q0ZTA3MjEwLWI5MzEtMTFlMC05OWVhLTkwYzJhNzUwZTM3OA--;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3
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