Stocks End Higher on Strong Jobless Claim Data and Earnings Reports

Stocks rose for a third straight day as better than expected initial jobless claims data and some strong earnings reports lifted sentiments. Investors’ sentiment was also lifted after Spain and France successfully completed bond auctions earlier today.

The Dow Jones ended the day 0.36% higher at 12,623.98, the S&P 500 ended the day 0.49% higher at 1,314.50, and the Nasdaq ended the day 0.67% higher at 2,788.33.

Services stocks led the gains in the S&P 500 in trading today, ending the day 1.42% higher. Transportation stocks also rose sharply in trading today, ending the day 1.21% higher. Industrials ended the day 1.18% higher. Consumer Cyclical stocks ended the day 1.14% higher. Consumer Non-Cyclical stocks were the worst performers in trading today, ending the day 0.49% lower.

Financials rose 0.81% in trading today. The gains in the sector were led by Bank of America Corporation (NYSE: BAC), which reported its earnings for the fourth quarter. Bank of America shares ended the day 2.35% higher at $6.96. Other major gainers in the sector today were Morgan Stanley (NYSE: MS), which ended the day 5.36% higher at $18.28, and Knight Capital Group Inc. (NYSE:KCG), which ended the day 10.13% higher at $13.05.

Other major gainers in trading today were eBay Inc. (NASDAQ: EBAY), which ended the day 3.86% higher at $31.51, and Rockwell Collins Inc. (NYSE: COL), which ended the day 5.49% higher at $59.96.

Among the major losers in trading today were Johnson Controls Inc. (NYSE:JCI), which ended the day 8.77% lower at $32.46, and UnitedHealth Group Inc. (NYSE: UNH), which ended the day 3% lower at $52.32.

European markets ended mostly higher in trading today, with the FTSE 100 Index in London closing 0.68% higher, and the CAC 40 Index in Paris closing 1.96% higher.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.