Stocks rose Thursday as investors considered several U.S. reports on jobs, housing, net worth, and the deficit. Stocks initially jumped due to the weak U.S. dollar, but the U.S. currency was volatile during the session, limiting stock gains. In economic news, U.S. jobless claims rose unexpectedly last week, but the number of Americans receiving benefits fell more than expected. U.S. foreclosure filings fell 8 percent in November, declining for the fourth consecutive month. However, foreclosures are 20 percent above last year. The U.S. trade deficit narrowed unexpectedly in October to $32.9 billion due to a jump in exports. The Treasury Department reported a $120.3 billion budget deficit for the month of November, the 14th consecutive month it has spent more than it earned. For the second consecutive quarter, U.S. household net worth rose, driven by gains in stock prices and home values. However, household wealth remains far below the peak in the second quarter of 2007, before the start of the recession. Light sweet crude oil for January delivery fell 13 cents to $70.54 a barrel on the New York Mercantile Exchange. Gold for February delivery rose $5.30 to $1,126.20 an ounce, more than $100 below last week's record high. The Dow Jones industrial average rose 68.78, or 0.7 percent, to 10,405.83. Twenty-four of the index's 30 components gained, led by commodities and consumer products. Winners included Chevron, Alcoa, Walt Disney, Johnson & Johnson, and Wal-Mart Stores. The broader Standard & Poor's 500 index rose 6.40, or 0.6 percent, to 1,102.35. The technology-heavy Nasdaq composite index rose 7.13, or 0.3 percent, to 2,190.86. Ciena posted a bigger-than-expected quarterly loss as a result of rising costs. The networking equipment maker also forecast better-than-expected revenue in the current quarter, but its shares fell 11 percent in active trading. The New York Stock Exchange composite index rose 36.88 to 7,104.50. The American Stock Exchange composite index rose 10.88 to 1,778.76. And the Russell 2000 index fell 2.65 to 595.38.
