Stocks Head Higher on Job Data

By Kevin Spak,  Newser Staff
Posted Mar 19, 2009 8:40 AM CDT
Stocks Head Higher on Job Data
Floor official Jonathan Corpina monitors trading activity at the New York Stock Exchange Tuesday, March 17, 2009.   (AP Photo/Mark Lennihan)

Stocks headed slightly higher at the open, as commodities rallied and investors cheered better-than-expected jobless claims numbers. The Dow rose 31 points, and the S&P and Nasdaq were up 0.9% and 0.8% respectively. Initial jobless claims fell 12,000 last week, though the four-week moving average rose again, hitting its highest level since October 1982. Gold futures, meanwhile, leapt by nearly $60 an ounce, and oil rose above $51 a barrel as the dollar weakened. (More stock market stories.)

Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X