Markets Bounce Back U.S. stocks rose on Thursday after the prior days drubbing, as investors embraced data that had retail sales climbing in November and jobless claims falling last week. Figures from the Commerce Department had retail sales rising 0.7 percent last month, the largest increase in eight months. After the stronger-than-expected retail report, the National Retail Federation told CNBC its forecast is right on track for a 4.1 percent sales growth this holiday season. On the New York Mercantile Exchange, oil futures for January delivery hit another five-year low, lately off 68 cents, or 1.1 percent at $60.28 a barrel. After spiking more than 50 percent during the last three sessions, the CBOE Volatility Index on Thursday fell 11 percent to 16.42. The Dow Jones Industrial Average rose 122.05 points, or 0.7 percent, to 17,655.17, with JPMorgan Chase leading blue-chip gains that included all but two of 30 components. The S&P 500 added 12.92 points, or 0.4 percent, to 2,039.06, with energy the best performing of its 10 major industry groups, all of which advanced. The Nasdaq gained 45.23 points, or 1 percent, to 4,729.43. For every share falling, roughly four rose on the New York Stock Exchange, where 77 million shares traded as of 9:45 a.m. Eastern. Composite volume hit 291 million. The U.S. dollar gained against other global currencies and the yield on the 10 year Treasury note added 2 basis points to 2.1885 percent. Gold futures for February delivery dropped $10.40, or 0.8 percent, to $1,219 an ounce.
Posted on: Thu, 11 Dec 2014 14:56:56 +0000
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