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Article: Stocks rise as weekly jobless claims fall
- Article from:
- AP Worldstream
- Article date:
- November 12, 2009
- Author:
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Stocks turned higher after an early stumble Thursday as news of an improving job market stirred hopes of an improvement in the economy.
The Labor Department said new claims for unemployment insurance fell to a seasonally adjusted 502,000 from an upwardly revised 514,000 the previous week. That's the fewest claims since the week ending Jan. 3, and below economists' estimates.
The news is evidence the job market is slowly healing.
The gains in stocks were modest as investors grew concerned by Wal-Mart Stores Inc.'s lower-than-expected third-quarter sales, a sign of weak consumer spending.
The nation's biggest retailer reported third-quarter earnings that beat ...