After showing a strong move to the upside early in the session,
stocks have continued to perform well over the course of the trading day
on Thursday. The gains have lifted the major averages toward the high
of the ranges seen thus far this year.
The major averages have moved roughly sideways in recent trading, hovering near their best levels of the day. The Dow is up 154.98 points or 0.9 percent at 17,828.00, the Nasdaq is up 31.61 points or 0.7 percent at 4,748.31 and the S&P 500 is up 16.37 points or 0.8 percent at 2,057.88.
A notable rebound by the price of crude oil has contributed to the strength on Wall Street, with crude regaining some ground following the sharp pullback seen on Wednesday.
Crude for March delivery is currently jumping $3.28 to $51.73 a barrel after plunging $4.60 to $48.45 a barrel in the previous session.
Positive sentiment has also been generated by a report from the Labor Department showing a smaller than expected rebound in initial jobless claims in the week ended January 31st.
The report said initial jobless claims rose to 278,000, an increase of 11,000 from the previous week's revised level of 267,000. Economists had expected jobless claims to climb to 290,000.
Read more Click here / www.trade4x.net
The major averages have moved roughly sideways in recent trading, hovering near their best levels of the day. The Dow is up 154.98 points or 0.9 percent at 17,828.00, the Nasdaq is up 31.61 points or 0.7 percent at 4,748.31 and the S&P 500 is up 16.37 points or 0.8 percent at 2,057.88.
A notable rebound by the price of crude oil has contributed to the strength on Wall Street, with crude regaining some ground following the sharp pullback seen on Wednesday.
Crude for March delivery is currently jumping $3.28 to $51.73 a barrel after plunging $4.60 to $48.45 a barrel in the previous session.
Positive sentiment has also been generated by a report from the Labor Department showing a smaller than expected rebound in initial jobless claims in the week ended January 31st.
The report said initial jobless claims rose to 278,000, an increase of 11,000 from the previous week's revised level of 267,000. Economists had expected jobless claims to climb to 290,000.
Read more Click here / www.trade4x.net
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