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
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Stocks Finish Higher on Jobs Data, China Stimulus Hopes

The market mood also strengthened on reports that the Chinese central bank has injected a net 365 billion yuan ($58 billion), a record amount, into the financial system ahead of a week-long public holiday next week in order to prevent a liquidity crunch.

"Chinese stocks rose on growing hopes of further stimulus measures aimed at propping up the markets while commodity prices responded by rising too," said Andrew Wilkinson, chief economic strategist at Miller Tabak, as he noted the brighter start to trading. "While none of Spain's pain has disappeared overnight, patterns in bond and stock markets seem to be pointing to less concern than earlier. Peripheral yields are lower and stocks are up."

November crude oil futures finished up $1.87 at $91.85 a barrel, while December gold futures surged $26.90 to settle at $1,780.50 an ounce.

The benchmark 10-year Treasury fell 13/32, lifting the yield to 1.657%. The greenback dropped 0.32%, according to the dollar index.

On the U.S. data front, the latest employment report offered some encouragement in an otherwise bleak day on domestic releases.

The Labor Department reported Thursday that initial jobless claims fell 26,000 in the week ended Sept. 22 to 359,000 from an upwardly revised figure of 385,000 in the prior week. The four-week moving average was 374,000, a decrease of 4,500 from the previous week's 378,500. Economists were expected initial jobless claims of 378,000.

Continuing claims during the week ended Sept. 15 were 3.271 million, a decrease of 4,000 from the preceding week's revised level of 3.275 million.

"The drop in initial jobless claims in late September is the second piece of better-than-expected labor-market news this week following the improvement in consumers' perceptions of the availability of jobs," noted John Ryding and Conrad DeQuadros, founders of economic consulting firm RDQ Economics.

"We should not read too much into any one initial claims reading, especially when claims had been boosted by Hurricane Isaac earlier in the month," he continued. "The four-week average puts claims at 374,000, the exact average for claims over the first eight months of the year (payroll growth averaged 139,000 per month over this period)."

Stock quotes in this article: ^DJI, ^GSPC, ^IXIC, RIMM, DG, GT, DFS, TPX, ZZ, HPQ, THO, MKC 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

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