US stocks delivered decent gains on Thursday, particularly the Dow Jones, while the S&P 500 rose above its five-year high.

For every stock that rose on the NYSE, one fell.

The gains were largely due to much better-than-expected unemployment data, as well as some pleasing performances from several companies.

Also contributing to the upbeat mood was a successful Spanish debt auction which saw reasonably strong demand, a pattern which indicated that Eurozone concerns are easing.

In other news, Budget Committee Chairman Paul Ryan revealed to reporters that House Republicans are considering the possibility of a short-term increase in the US debt ceiling so as to make time to debate reduced government spending. He was speaking at a press conference outside Williamsburg, Va.

Better-than-expected US data

The number of Americans filing new claims for unemployment benefits tumbled to a five-year low last week, the largest drop since February 2010, according to the Labor Department. Weekly unemployment benefit applications fell 37,000 to a seasonally adjusted 335,000, it said.

In other good news for the US, housing starts surged 12.1% in December to a near five-year high, Commerce Department data showed.

Builders started construction of houses and apartments at a seasonally adjusted annual rate of 954,000. It exceeded expectations of 887,000 and the prior month’s revised level of 851,000. The results were buttressed by the multi-family apartment sector. However single-family home starts also were up notably.

Those able to afford a house have moved forward with purchases despite an increase in the number of renters.

The Federal Reserve said the country’s economy has started to recover following a boost in auto and home sales. It comes after US lawmakers agreed on a budget that avoided most tax increases and spending cuts.

Corporate earnings

Bank of America this morning unveiled fourth quarter earnings per share of 29 cents, ahead of analysts’ consensus estimate of 20 cents. Revenues, on the other hand, came in well below what was foreseen, at 19.61bn dollars.

Citigroup’s results, on the other hand, were decidedly mixed.

Boeing shares rose after falling earlier in the day; the company’s Dreamliner 787 jets were grounded by the Federal Aviation Administration following an emergency landing by one of them after a battery overheated.

CBS Group got a boost after the media firm the previous day said it is weighing up whether to convert the CBS Outdoor Americas unit into a real-estate investment trust.

Shares of E-bay were heading higher after the release of its own quarterly figures the previous night.

Agilent has put in motion a $500m share repurchase programme.

JP Morgan announced that it will upgrade the shares of Juniper Networks to outperform.

Spanish debt auction a success

The troubled economy sold 4.5bn euro worth of three existing bonds and notes, pushing the dollar lower.

Other markets

Crude oil settled up 1.33 per cent at 95.49 dollars on Wednesday, having temporarily gone above the 96 dollar mark, following news that Islamist militants have taken over a natural-gas plant in Algeria, killing a number of hostages.

10-year US Treasury yields are now gaining five basis points to the 1.87% level.

S&P 500 – Risers
CBS Corp. (CBS) $40.95 +7.93%
KLA-Tencor Corp. (KLAC) $51.89 +6.99%
PulteGroup Inc. (PHM) $20.37 +5.33%
Big Lots Inc. (BIG) $31.22 +4.91%
H&R Block Inc. (HRB) $20.34 +4.90%
Fifth Third Bancorp (FITB) $16.29 +4.76%
Lam Research Corp. (LRCX) $40.07 +4.57%
Whirlpool Corp. (WHR) $107.40 +4.47%
Blackrock Inc. (BLK) $232.00 +4.39%
Huntington Bancshares Inc. (HBAN) $7.00 +4.17%

S&P 500 – Fallers
Bank of America Corp. (BAC) $11.28 -4.24%
J.C. Penney Co. Inc. (JCP) $18.14 -3.46%
Citigroup Inc. (C) $41.24 -2.92%
SLM Corp. (SLM) $16.82 -2.77%
Corning Inc. (GLW) $12.30 -1.76%
Cameron International Corp. (CAM) $58.63 -1.58%
Monster Beverage Corp (MNST) $49.84 -1.40%
US Bancorp (USB) $32.76 -1.18%
FMC Technologies Inc. (FTI) $45.56 -1.17%
VF Corp. (VFC) $151.13 -1.16%

Dow Jones I.A – Risers
Intel Corp. (INTC) $22.68 +2.58%
Home Depot Inc. (HD) $65.05 +1.86%
Walt Disney Co. (DIS) $52.41 +1.71%
Verizon Communications Inc. (VZ) $42.13 +1.49%
Unitedhealth Group Inc. (UNH) $54.40 +1.38%
Boeing Co. (BA) $75.26 +1.24%
United Technologies Corp. (UTX) $86.40 +0.97%
General Electric Co. (GE) $21.30 +0.85%
E.I. du Pont de Nemours and Co. (DD) $46.36 +0.85%
Pfizer Inc. (PFE) $26.83 +0.83%

Dow Jones I.A – Fallers
Bank of America Corp. (BAC) $11.28 -4.24%
JP Morgan Chase & Co. (JPM) $46.44 -0.81%
Hewlett-Packard Co. (HPQ) $17.11 -0.58%
Wal-Mart Stores Inc. (WMT) $68.85 -0.52%
Cisco Systems Inc. (CSCO) $20.95 -0.38%
AT&T Inc. (T) $33.20 -0.18%

Nasdaq 100 – Risers
KLA-Tencor Corp. (KLAC) $51.89 +6.99%
Applied Materials Inc. (AMAT) $12.40 +3.94%
Intuitive Surgical Inc. (ISRG) $514.20 +3.15%
Sandisk Corp. (SNDK) $48.39 +2.80%
Intel Corp. (INTC) $22.68 +2.58%
Life Technologies Corp. (LIFE) $54.97 +2.48%
Catamaran Corp (CTRX) $52.53 +2.46%
eBay Inc. (EBAY) $54.17 +2.40%
Analog Devices Inc. (ADI) $43.06 +2.33%
Dentsply International Inc. (XRAY) $40.68 +2.16%

Nasdaq 100 – Fallers
Monster Beverage Corp (MNST) $49.84 -1.40%
Baidu Inc. (BIDU) $108.43 -1.36%
Bed Bath & Beyond Inc. (BBBY) $55.39 -0.93%
Perrigo Company (PRGO) $103.72 -0.93%
Randgold Resources Ltd. Ads (GOLD) $92.87 -0.70%
Celgene Corp. (CELG) $98.19 -0.68%
Apple Inc. (AAPL) $502.68 -0.67%
Virgin Media Inc. (VMED) $38.45 -0.65%
Costco Wholesale Corp. (COST) $100.96 -0.56%
Garmin Ltd. (GRMN) $39.61 -0.55%