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US stocks rise after unemployment claims report; tech stocks fall on Cisco warning
The Dow Jones industrial average has broken a six-day losing streak. The Dow notched a small gain after the government released better unemployment numbers.
The Dow rose 20 points to close at 12,855. Earlier in the day it had risen as much as 97 points. The Standard & Poor's 500 index rose three points to close at 1,358.
Tech stocks closed slightly lower. The Nasdaq composite index fell a point to close at 2,934. Networking gear maker Cisco Systems plunged more than 10 percent after warning that technology spending appears to be slowing down.
Advancing stocks outnumbered decliners 3-to-2. Volume was light at 3.6 billion shares.
European stocks rose because of signs that then Spanish government will help its banking sector. That boosted financial stocks in the U.S., too.