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U.S. markets recover from steep losses
NEW YORK, D.C., Feb. 23 (UPI) -- U.S. markets rose Thursday after the Department of Labor said initial claims for unemployment benefits were unchanged in the week.
The 351,000 first-time benefit claims matched the previous week's figures, the department said.
In Belgium, the European Commission forecast the 17-member eurozone would experience a mild recession in 2012 with the region's gross domestic product dropping 0.3 percent on an annual basis.
By close of trading on Wall Street, the Dow Jones industrial average added 46.02 points, or 0.36 percent, to 12,9384.69. The Standard & Poor's 500 index gained 5.80 points, or 0.43 percent, to 1,363.46. The Nasdaq composite index gained 23.81 points, or 0.81 percent, to 2,956.98.
On the New York Stock Exchange, 2,182 stocks advanced and 857 declined on a volume of 3.5 billion shares traded.
The benchmark 10-year treasury note rose 3/32 to yield 1.998 percent.
The euro rose to $1.3369 from Wednesday's $1.3249. Against the yen, the dollar fell to 80 yen from 80.29 yen.
In Tokyo, the Nikkei 225 index rose 0.44 percent, 41.57 points, to 9,595.57.
In London, the FTSE 100 index added 0.36 percent, 21.34, to 5,937.89.
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The British government unveiled a draft energy bill this week critics say will raise prices and favors new gas-fired power plants over renewable sources.
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It is a whole new ball of wax in Europe these days.
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