NEW YORK: US stocks edged higher Thursday in a rebound from recent losses while the euro hit a record low against the Swiss franc on renewed euro zone debt concerns. US oil prices declined along with gold, while bond prices advanced. Technology shares led gains on Wall Street, which has been pressured along with other risky assets by worries of a slowdown in economic growth. Comments from the president of the Eurogroup, Jean-Claude Juncker, raised doubts over a disbursement by the International Monetary fund of financial support to Greece in June and added to recent market jitters about debt problems in the euro zone. Disappointing US economic data weighed on oil and stocks earlier in the day. The US government kept its estimate of first-quarter economic growth unchanged at 1.8 percent after economists had forecast an upward revision from the initial estimate. A surprise rise in weekly jobless claims added to the latest batch of disappointing US data. But stocks brushed aside those worries, turning higher in afternoon trading. “It speaks to the internal strength of the market that people think the internal momentum hasn't been broken yet,” said Jim Awad, managing director at Zephyr Management in New York. Stocks have struggled in recent weeks to extend their latest rally that began in September. The benchmark Standard & Poor's 500 Index has gained 27 percent since the start of September. The Dow Jones industrial average was up 13.81 points, or 0.11 percent, at 12,408.47. The Standard & Poor's 500 Index was up 5.84 points, or 0.44 percent, at 1,326.31. The Nasdaq Composite Index was up 23.10 points, or 0.84 percent, at 2,784.48. The MSCI Latin American index rose 1.4 percent, adding to the week's gains, which have pulled it off an eight-month low reached on Monday. In Europe, the FTSEurofirst 300 index ended down 0.07 percent.
