Market flatlines, pulled by jobless claims, Europe
BY Wire reports
Friday, October 12, 2012
10/12/12 at 4:24 AM
The market closed roughly flat Thursday, underwhelmed by encouraging jobs news but unrattled by worrisome developments in the global economy.
In the morning, a government report of fewer jobless claims carried the market higher. The Dow Jones industrial average rose as much as 83 points, shrugging off a widening U.S. trade deficit, higher unemployment in Greece and a ratings cut for Spain.
By late afternoon, the rally sputtered, and the Dow wavered between small gains and losses. It closed slightly down, while the Standard & Poor's 500 eked out the tiniest gain.