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

[video] Market Hustle: All Good for Now, Stocks Gain for Third Month

NEW YORK ( TheStreet) -- U.S. markets closed higher Wednesday with the Standard & Poor's 500 rising for a third consecutive month as fewer U.S. residents filed for unemployment benefits than projected, and a gauge of consumer sentiment showed signs of improved.

  • The S&P 500 closed 0.25% higher to 1,807.23 to extend the benchmark gauge's 2013 advance to 26.7%
  • The Dow Jones Industrial Average rose 0.15% to 16,097.3
  • The Nasdaq jumped 0.67% to 4,044.75 after closing above 4,000 yesterday for the first time in 13 years. A surge in tech stocks was led by Hewlett-Packard (HPQ), which soared 9.1% to $26.36 after beating analyst estimates with earnings of $1.01 a share on revenue of $29.1 billion.
Heading into the Thanksgiving weekend, investors were cheered by two relatively good pieces of data:
  • Fewer U.S. residents filed jobless claims last week than expected -- a sign of improvement in the labor market. Jobless claims for the week ending Nov. 23 fell to 316,000 or the lowest in two months. Expectations were for 330,000 claims.
  • Consumer sentiment in the U.S. rose more than expected in November to 75.1, according to the University of Michigan. Expectations had been for a result of 73.5 up slightly from 73.2 in October.
Over in Europe: A key measure of German consumer confidence hit its highest level since August 2007, fueling gains in emerging markets. British economic growth accelerated by 0.8% in the third quarter due mainly to a rise in household spending. The Japanese yen fell against other major currencies for the fifth consecutive day while the sterling rallied.

Durable-good orders fell in October, reflecting a hit to confidence from the government shutdown. Bookings fell 2% to match expectations after a 4.1% rise in September. Durable-goods orders are a leading indicator of industrial production and capital spending.

Germany's DAX closed 0.66% higher while the FTSE was up 0.20%. The Hang Seng closed up 0.53% while the Nikkei was down 0.42%. Oil was off 1.51% to $92.27.

--By Jane Searle in New York

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
AAPL $118.03 -0.71%
FB $105.41 -0.31%
GOOG $748.15 -0.02%
TSLA $229.64 5.22%
YHOO $33.16 0.61%


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs