Economy Gained 155,000 Jobs, Markets Close Higher
The addition of 155,000 jobs to the nation's economy in December lifted the markets to a higher close with the Dow gaining 43 points to 13,435. Nasdaq edged up a point to 3101.
On the upside
The Wall Street Journal reported that Supervalu (NYSE: SVU) was close to finalizing a deal to sell part of its business to Cereberus Capital Management.
A judged ordered Bank of America (NYSE: BAC) to unseal certain documents related to a lawsuit filed by MBIA (NYSE: MBI) against the bank.
On the downside
Third quarter earnings unexpectedly fell to a loss for Finish Line (Nasdaq: FINL) and the company forecast current quarter earnings below expectations. BB&T Capital Markets downgraded Brown Shoe Co. (NYSE: BWS) to a Hold rating.
Shares of Millennial Media (NYSE: MM) fell after eMarketer said that growth of global mobile ad spending most likely peaked in 2012.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 index climbed 7 points to 1466.
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