Stocks rose modestly, down slightly from gains earlier in Thursday's session, as investors considered better-than-expected reports on the U.S. trade deficit and weekly jobless claims. The government's weekly report on jobless claims showed that 451,000 were filed last week, significantly lower than economists' expectations. A second government report showed the U.s. trade deficit fell to $42.8 billion in July, sharply lower than analyst forecasts. The U.S. dollar rose versus the euro and the yen. Light sweet crude oil for October delivery fell 42 cents to $74.25 a barrel on the New York Mercantile Exchange. Gold futures fell $6.60 to $1,250.90 an ounce. The Dow Jones industrial average rose 28.23, or 0.3 percent, to 10,415.24. Earlier in the session, the Dow had risen 51 points. McDonald's said its global sales rose 4.9 percent in August, but the sales increase fell short of analysts' forecasts, and shares of the fast-food giant fell 2.5 percent. The broader Standard & Poor's 500 index rose 5.31, or 0.5 percent, to 1,104.18.
