Stocks slipped Thursday but closed significantly higher than the day’s lows. Reports of an increase in initial unemployment alongside renewed anxiety over Greek debt led the market to slide more than 188 points in morning trading.
By the end of the day though, worries that a potential downgrade in Greece’s credit rating could affect other countries seemed to subside indicated by the dollars retreat.
The Dow Jones industrial average closed lower by 53 points making a respectable recovery from the dramatic dip earlier in the day. By the closing bell, more stocks were advancing than were declining by a small margin. Trading ended at 10,321.03. The Standard & Poor's 500 index fell a minor 2.30, or 0.2 percent, to 1,102.94 while the Nasdaq composite index declined 1.68 points, or 0.1 percent, to 2,234.22.
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