U.S. Stock Market Rebounds After Plunge

Following the ups and down of the U.S. stock market has been especially exhausting lately.

One day economists and market watchers are predicting a recession, the next day their humming a more optimistic tune. Either way, the volatility certainly isn’t a good thing.

The U.S. stock market opened higher Thursday and remained in positive territory following a dismal day of trading Wednesday, buoyed by record low oil prices and China’s flailing economy.

At press time (3 p.m. EST) Thursday, the Dow Jones industrial average had gained 115.77 points, or 0.73 percent, to 15,882.51; the S&P 500 was up 12.28 points, or 0.66 percent, to 1,871.61; and the Nasdaq advanced 12.26 points, or 0.27 percent, to 4,483.95.

Shoe stocks were also in the green with Nike Inc. up 2.86 percent, to $60.73; Skechers USA Inc. rising 2.32 percent, to $28.17; Under Armour Inc. up 2.85 percent to $69.26; VF Corp. advancing 3.91 percent, to $57.15; and Deckers Brands up 3.29 percent to $45.27.

While the latest report from the Labor Department, released today, indicated that the initial jobless claims rose by 10,000 to a six-month high of 293,000 in the week ended Jan. 16, the number is still below the critical level of 300,000. That level, experts say, is consistent with an improving job market.

The Labor Department’s findings for the previous week had indicated that the initial jobless claims number was 283,000, an adjustment to the initial announcement of jobless claims of 284,000.

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