SmarTrend Market Close Wrap-Up - January 12, 2012

The major U.S. equity indices closed higher Thursday despite unemployment back on the rise. The Department of Labor announced 399,000 people filed for new unemployment claims last week, that is up 24,000 from the week prior. Analysts were expecting an average of 375,000 filed claims.

In corporate news, Royal Bank of Scotland (NYSE:RBS) announced changes to its wholesale banking operations to ensure they continue to deliver against the Group's strategy announced in 2009. The changes follow a review outlined at its Q3 2011 results, in light of a changed market and regulatory environment.

While, Target announced it would be starting a new $5 billion sock buyback plan upon completion of its current $10 billion plan.

The Dow Jones Industrial Average (DJI) closed 0.17% higher at 12,471.01, the S&P500 (S&P 500 INDEX,RTH) closed 0.23% higher at 1,295.50, and the Nasdaq Composite (IXIC) closed 0.51% higher at 2,724.70.

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News & Politics

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• market
• closing
• stocks
• shares
• labor department
• target
• RBS