This Day On The Street
Continue to site
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

US Stock Futures Rise As Fear Wanes Over Greece


NEW YORK (AP) â¿¿ The Dow Jones industrial average made another run at 13,000 but couldn't quite get there.

Stocks recovered from an early loss Thursday and pushed the Dow within four points of the milestone. Investors were encouraged by more good news on U.S. jobs, but gains were limited by poor results from retailers such as Safeway and Kohl's.

The Dow finished up 46.02 points at 12,984.69. The Standard & Poor's 500 index gained 5.80 points to close at 1,363.46. The Nasdaq composite index climbed 23.81 points to 2,956.98.

The Dow pierced 13,000 three times Tuesday but could not hold the milestone. The average hasn't closed above 13,000 since May 19, 2008, four months before the financial crisis.

Investors were encouraged Thursday after the government reported that the number of people seeking unemployment benefits last week was unchanged. The four-week average was the lowest in four years.

High unemployment has been a problem for retailers, which have been forced to slash prices even though they are paying more to make and ship their goods. The burden showed in Thursday's earnings reports.

Kohl's, the department store chain, sank 6 percent after weak holiday sales caused it to miss Wall Street estimates for revenue and earnings. Grocery store chain Safeway Inc. plunged more than 7 percent after reporting a 6 percent drop in profit.

Part of the problem is the rising cost of gas, which could hurt the economic recovery. The price of gas is rising as tensions mount over Iran's nuclear program. A gallon of regular sells for $3.61 on average, the highest on record this time of year.

The price of oil jumped again Thursday, to $107.83, a nine-month high and up $1.52 for the day. Besides Iran, analysts blamed the falling U.S. dollar. When the dollar falls in value, it takes more dollars for foreign buyers to pay for the same barrel of oil.

1 of 3

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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,050.75 +138.46 0.82%
S&P 500 1,995.83 +15.91 0.80%
NASDAQ 4,810.7880 +19.6360 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs