Stocks Gain After Jobless Claims; Sprint Up 20%
October 11, 2012 Leave a Comment
Stocks climbed Thursday, with the S&P 500 looking to snap a four-day decline, after jobless claims dropped to their lowest level since 2008 and following a bullish report from Citigroup on U.S. equities.
“We’ve had a tremendous amount of selling so there’s been a lot of pent-up demand,” said Todd Schoenberger, managing principal at The BlackBay Group. “There’s more of a momentum shift to go lower, but you have some positive news with jobless claims and bank earnings coming up. You’d be a fool to be on the sidelines in the next two days.”Read More