Daily Insight: Jobless Claims and FOMC is FIDO

U.S. stocks rose again on Thursday, helping the S&P 500 erase more of Tuesday’s slide. – a 1% pick up today will compete the circle. Of the major indices, the NASDAQ gained the most, followed by the S&P500 and then the Dow.

The German Parliament came to consensus on supporting their $11 billion share of the Greek rescue package, which will prove to be the first in a series of installments over the intermediate term. Optimism over the corporate-profit story also goosed stocks, along with Federal Reserve Board nominees that are unlikely to put pressure on Bernanke to tighten anytime before the unemployment rate hits 8% -- more on that below.

Financials, which led the market lower on Monday and Tuesday, was the top-performing sector for a second-straight session. Industrials and consumer discretionary rounded out the top spots. Energy and utility shares were the worst-performing groups, but all 10 majors gained ground on Thursday.
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Brent Vondera, Senior Analyst
www.acrinv.com