Stocks rise on unemployment claims decline
Wednesday, January 18, 2012
NEW YORK (AP) -- It was another day of quiet but solid gains on Wall Street.
The Dow Jones industrial average is finishing up 45 points at 12,624. The Standard & Poor's 500 index is ending up six at 1,314. And the Nasdaq composite index is closing 19 points higher at 2,788.
Investors have been showing more of an appetite for risk as the economy improves, and they found more reasons Thursday to buy stocks. Unemployment claims fell, and several companies reported stronger-than-expected profits.
The stock market is quietly putting together a strong start to the year. The Dow is already up 3.3 percent, and the S&P 500 is up 4.5 percent.
Rising stocks outnumbered falling ones two-to-one on the New York Stock Exchange. Volume was slightly above average at 4.4 billion shares.