Stocks close higher ahead of jobs report
Stocks closed higher on Thursday a day ahead of the key monthly jobs report, with a rebound in Apple’s shares helping to boost the Nasdaq.
The Dow Jones industrial average rose 0.3 percent to end at 13,074.04. The Standard & Poor’s 500-stock index gained 0.3 percent as well, and the Nasdaq composite index ended up 0.5 percent.
Monthly payroll numbers, to be released by the Labor Department on Friday, were expected to show a sharp slowdown in jobs growth because of Hurricane Sandy.
The S&P technology index was the best performing of the 10 major sectors, gaining 0.4 percent. Apple was up 1.6 percent after losing as much as 3.7 percent at the open. The stock suffered its biggest one-day drop in four years on Wednesday due to concerns about higher capital gains taxes in 2013 and its share in the tablet market.