This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Stocks Lift Ahead of Jobs Report

(Updated with stock prices.)

NEW YORK ( TheStreet) -- Stocks in New York moved modestly to the upside Thursday, as investors shook off mixed data to focus on Friday's unemployment report.

The major indices ended near their highs of the day. The Dow Jones Industrial Average advanced 63.94 points, or 0.7%, to 9344.61, while the S&P 500 tacked on 8.49 points, or 0.9%, to 1003.24. The Nasdaq Composite added 16.13 points, or 0.8%, to 1983.2.

Financials did particularly well, with the KBW Bank index rising 2.5%, and Citigroup (C - Get Report) and UBS (UBS) gaining 4.6% and 5%, respectively.

There was news aplenty with a rebound in Chinese stocks , some expectation-topping retail sales, and mixed economic data , but Wall Street stayed relatively focused on Friday's jobs report.

"There's a lot of caution out there that says let's not get ahead of our headlights, it certainly keeps things on the conservative side and keeps people from taking long positions," says Brian Bethune, chief U.S. financial economist at HIS Global Insight.

Some of that caution shined through in gold, which rose to $999.50 an ounce as investors migrated to safety and bet on a weakening dollar, sending metals stocks higher.

Expectations are for a slight increase in the unemployment rate to 9.5% from 9.4% and a decrease of 225,000 in nonfarm payrolls, an improvement from the 247,000 decline the month prior.

"Tomorrow's numbers will just lend more credence to the fact that we are experiencing a recovery, but where the jobs are not forthcoming," says Quincy Krosby, chief market strategist for Prudential Annuities, adding that this is not unusual.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
C $53.42 -0.46%
COST $150.48 2.20%
KSS $73.98 -0.43%
UBS $17.62 0.00%
SKS $0.00 0.00%


DOW 18,148.66 +51.76 0.29%
S&P 500 2,102.29 +3.76 0.18%
NASDAQ 4,987.0960 +19.9550 0.40%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs