Stocks Head Higher on Job Data

By Kevin Spak,  Newser Staff
Posted Mar 19, 2009 8:40 AM CDT
Floor official Jonathan Corpina monitors trading activity at the New York Stock Exchange Tuesday, March 17, 2009.   (AP Photo/Mark Lennihan)
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(Newser) – Stocks headed slightly higher at the open, as commodities rallied and investors cheered better-than-expected jobless claims numbers. The Dow rose 31 points, and the S&P and Nasdaq were up 0.9% and 0.8% respectively. Initial jobless claims fell 12,000 last week, though the four-week moving average rose again, hitting its highest level since October 1982. Gold futures, meanwhile, leapt by nearly $60 an ounce, and oil rose above $51 a barrel as the dollar weakened.