NEW YORK — U.S. stocks bounced Thursday after two days of declines following encouraging data on the labor market, but mixed data this week kept uncertainty high before Friday’s key payrolls report.
The S&P consumer discretionary index, up 0.7 percent, was among the day’s better-performing indexes, helped by gains in CarMax (KMX) shares. The stock jumped 9.3 percent to $74.73 following stronger-than-expected results.
The number of Americans filing new claims for unemployment benefits unexpectedly fell last week. The report followed lower-than-expected readings on private sector employment and manufacturing Wednesday.
It’s safe to say there’s quite a of bit of uncertainty in the market and you’re kind of seeing that translate into a lot of volatility with not a lot of direction.
That has given a mixed picture of the economy ahead of the March jobs report, due Friday, when the stock market is closed. Stock investors will be unable to trade off the report until Monday.
The Federal Reserve has said it won’t raise interest rates until it deems the economy strong enough to withstand such a move, which will raise borrowing costs and possibly crimp spending. A below-consensus jobs number Friday could ease concerns of a nearer-term rate rise, strategists said.
The S&P and Dow closed with slight gains for the week and the Nasdaq ended down.
“It’s safe to say there’s quite a of bit of uncertainty in the market and you’re kind of seeing that translate into a lot of volatility with not a lot of direction,” said Joe Bell, senior equity analyst at Schaeffer’s Investment Research in Cincinnati.
The Dow Jones industrial average (^DJI) rose 65.06 points, or 0.37 percent, to 17,763.24, the Standard & Poor’s 500 index (^GSPC) gained 7.27 points, or 0.35 percent, to 2,066.96 and the Nasdaq composite (^IXIC) added 6.71 points, or 0.14 percent, to 4,886.94.
Movers and Shakers
Shares of Motorola Solutions (MSI) fell 6.2 percent to $62.51. Bloomberg reported the company has failed to find a buyer after seeking to raise interest from private equity funds and large industrial companies, citing people with knowledge of the matter.
Energy shares ended up 0.2 percent despite lower crude prices. Oil fell after a preliminary pact between Iran and global powers on Tehran’s nuclear program, even as officials set further talks in June and analysts questioned when the OPEC member will be allowed to export more crude.
The release of the jobs report has only coincided with Good Friday four times since 1999, according to data from Bespoke, most recently in 2012. Analysts expect 245,000 jobs added in the month, down from 295,000 in February.
Advancing issues outnumbered declining ones on the NYSE by 1,923 to 1,101, for a 1.75-to-1 ratio; on the Nasdaq, 1,643 issues rose and 1,092 fell, for a 1.50-to-1 ratio.
The S&P 500 posted 19 new 52-week highs and 3 new lows; the Nasdaq composite recorded 104 new highs and 35 new lows.
About 5.8 billion shares changed hands on U.S. exchanges, below the 6.4 billion daily average for the last five trading sessions, according to BATS Global Markets.
What to watch Friday:
U.S. stock markets are closed for Good Friday.
The Labor Department releases employment data for March at 8:30 a.m. Eastern time.
You probably want to have your own hammer, wrench and screwdriver on hand for those around-the-house projects that spring up, but there’s no reason to go out and buy a pricey piece of machinery you’ll only use once.
Power sanders, tile saws and post-hole diggers are essential for certain projects, but unless you’re an avid carpenter or a DIY enthusiast, chances are you won’t use them again anytime soon. Rather than buying them, rent them by the day from stores like Home Depot or Lowe’s.
1. Power tools
Once your class is over, you’ll no longer need the textbooks it requires. Why pay hundreds of dollars for them, especially when the campus bookstore will give you cents on the dollar when you try to sell them back?
College is expensive enough. Save some much-needed cash by checking out textbook rental sites like Chegg.com, TextbookRentals.com and BookRenter.com.
2. Textbooks
Guys have no trouble renting a tuxedo for a wedding or formal event, but when it comes to evening gowns, most women pay top dollar for fancy dresses they only wear once or twice. Rent these dresses instead and you’ll not only save money; you’ll be able wear a different dress for every occasion without the guilt. Check out RentTheRunway.com, LendingLuxury.com and JJsHouse.com to rent prom dresses, evening gowns, accessories and more.
3. Special-occasion attire
The trouble with buying video games is they often cost a pretty penny, and you don’t know until you start playing the game whether or not you’ll love it. If you don’t, you’ll have a great time playing it through once or twice, and then it sits on a shelf collecting dust.
By choosing to rent your video games through a service like GameFly, you’re able to explore a wide range of titles to find which ones you like. If you love one, you can always buy it. If not, just drop it back in the mail and try the next one, no money lost.
4. Video games
Unless you’re a fanatic, chances are you need seasonal outdoor gear only once or twice a season, which hardly justifies the expense of buying and storing it year-round.
Rent backpacking and camping gear from stores like REI or websites like MountainSideGearRental.com. Rent jet skis and surfboards from beach vendors. Rent snowmobiles, skis and snowboards from local ski venues and resorts. Unless it’s something you plan on making a regular hobby, you’re better off renting.
5. Seasonal outdoor gear
Too many of us have a treadmill in our basement that we bought with the best of intentions, used regularly for about a week, and have since turned into a place to hang laundry while it’s drying.
Unless you’re an established home gym rat and know that that new elliptical, stationary bike or training unit won’t be just a passing fad, go the rental route through sites like GymSource.com and BDFitness.net.
6. Exercise equipment
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