Stocks rise on possible central bank action
A report that major central banks would be ready to pump money into the financial system after the Greek elections this weekend gave the stock market a late push higher Thursday.
The Reuters report said major central banks were preparing for coordinated action if the results of Greek elections on Sunday strain global financial markets.
The Dow Jones industrial average jumped 155.53 points to close at 12,651.91. That's a gain of 1.2 percent.
The stock market began climbing in early trading after a tame inflation reading and another weak jobs report raised expectations that the Federal Reserve would offer more support for the U.S. economy.
Applications for unemployment benefits rose last week, according to the latest government report. The four-week average increased for a third straight week, another sign that the jobs market remains weak.