U.S. markets close with gains

NEW YORK, March 1 (UPI) -- Stocks posted gains in New York Thursday after the U.S. Commerce Department said consumer spending rose 0.2 percent in January.

The figure was in line with expectations. It is not considered a large jump in spending, but it beat December's spending growth figure, which came in at less than 0.1 percent.

The Labor Department said first-time unemployment benefit claims dropped in the week ending Saturday. For the week, 351,000 jobless filed for first-time benefits, 2,000 fewer than the previous week.

By close of trading, the Dow Jones industrial average added 28.23 points, or 0.22 percent, to 12,980.30. The Standard & Poor's 500 index gained 8.41 points, or 0.62 percent, to 1,374.09. The Nasdaq composite index gained 22.08 points, or 0.74 percent, to 2,988.97.

On the New York Stock Exchange, 2,048 stocks advanced and 989 declined on a volume of 3.7 billion shares traded.

The benchmark 10-year treasury note fell 17/32 to yield 2.037 percent.

The euro fell to $1.3313 from Wednesday's $1.3324. Against the yen, the dollar fell to 81.08 yen from was unchanged at 81.15 yen.

In Tokyo, the Nikkei 225 index gave up 0.16 percent, 15.87 points, to 9,707.37.

In London, the FTSE 100 index rose 1.02 percent, 59.74, to 5,931.25.