WASHINGTON -- 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 three points, its first decline of the year.
Investors looking for good news had the latest encouraging report on the U.S. job market. Weekly unemployment claims declined again, a day before a crucial report on the national jobs picture in December.
--The Dow recovered from a 134-point deficit to end down 2.72, or 0.02 percent, at 12,415.70.
--The S&P 500 index closed up 3.76, or 0.29 percent, to 1,281.06.
--The Nasdaq composite rose 21.5, or 0.81 percent, to 2,669.86.
Mortgages bottom out again to start new year
WASHINGTON -- 2012 looks to be another year of opportunity for the few who can afford to buy or refinance a home.
The average rate on the 30-year fixed mortgage fell to 3.91 percent this week, Freddie Mac said Thursday. That matches the record low reached two weeks ago. The average on the 15-year fixed mortgage ticked down to 3.23 percent from 3.24 percent but was slightly above the all-time low.
Forecast for technology spending is cut for 2012
NEW YORK -- Research firm Gartner Inc. has cut its global technology spending growth forecast because of the sluggish economy and the euro crisis.
Gartner now expects worldwide spending on technology to grow by 3.7 percent this year, to $3.8 trillion. That's down from its earlier forecast of 4.6 percent. In 2011, global tech spending grew 6.9 percent from 2010, to $3.7 trillion.
Source: http://www.postandcourier.com/news/2012/jan/06/business-briefs/
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