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Thursday
Sep052013

Wall Street Stocks Close with Modest Gains

Hemera/Thinkstock(NEW YORK) -- The markets saw modest gains Thursday, coinciding with a positive jobs report.

The Dow Jones Industrial Average closed up 7 points at 14,937.48. The Nasdaq Composite added 10 points at 3,658.78, and the S&P gained 2, closing at 1,655.08.

A new private survey from payroll company ADP shows some positive signs for the job market. The number of Americans filing for first time unemployment benefits dropped by 9,000 last week, and businesses added 176,000 jobs in August.

While the job market seems to be on the mend, mortgage rates are rising, making it difficult for those searching for a home loan. Freddie Mac says fixed rate mortgages are near their highs for the year, with a 30-year loan rising to 4.57 percent this week and a 15-year mortgage increasing to 3.59 percent.

JC Penney and Macy's may be ending their legal battle over Martha Stewart, according to the New York Post. JC Penney is reportedly dropping their line of Stewart products due to low sales. Macy's sued Penney and Martha Stewart Living Omnimedia in 2012 claiming exclusive rights to products.

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