It took the whole day, but stocks came all the way back.
Bruised once again by uncertainty about European debt, the U.S. stock market fell sharply Thursday at the open, then steadily gained ground for six hours. By the close, the Dow Jones industrial average had shaved its loss to less than 3 points.
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It was the first decline of the year for the Dow. The Standard & Poor’s 500 index gained just under 4 points and managed to extend its January winning streak to three days.
Investors looking for good news had the latest encouraging report on the U.S. job market. Weekly unemployment claims declined again, one day before a crucial report on the national jobs picture in December.
The Dow recovered from a 134-point loss to end at 12,415.70. The Standard & Poor’s 500 index closed at 1,281.06. The Nasdaq rose 21.5 points to 2,669.86.
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