Rally brings S&P closer to break-even for 2011

Stocks rose on Thursday, putting the S&P 500 on the cusp of finishing out the year higher as another decline in jobless claims pointed to further improvement in the labor market.

The S&P rose for a third day in seasonally light volume that has contributed to sharp swings recently. With the benchmark index near break-even year-to-date and the Dow already higher for 2011, U.S. stocks appeared on track to outperform such major overseas markets as China, Brazil and Europe, all of which are down more than 10 percent year-to-date.

The latest bit of optimism on Wall Street came from a drop in weekly claims for jobless benefits to a 3-1/2-year low. Also helping equities, U.S. consumer sentiment improved in December, hitting its highest level in six months as Americans felt better about the economy's prospects.

Read Full Article from Reuters

- Posted: 2011-12-22 16:14:41

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