Wall Street ends a strong quarter optimistic on payrolls (Reuters)

Thursday, March 31, 2011 2:01 PM By dwi

NEW YORK (Reuters) – U.S. stocks ended a solidified lodge with the barest of moves on Thursday, as investors looked ahead to Friday's U.S. jobs inform to wage a accelerator to nearby indexes to new highs for the year.

After gaining 5.4 proportionality in the prototypal quarter, the benchmark S&P 500 hovered nearby 1,330, a level the finger has been unable to break despite individual attempts in the past month. A brawny payrolls sort may counsel it over and technical momentum could squawk in, lifting stocks further.

"The mart has stalled around this area before," said Jim Paulsen, honcho assets tar at author Capital Management in Minneapolis. "Unless we get a intense sort tomorrow, this mart is going to attain a run at the year highs."

Stocks were resilient finished the prototypal quarter, hanging thickened despite Japan's seism and nuclear crisis and a series of uprisings in North continent and the Middle East. Friday's jobs inform would support investor optimism that a brawny U.S. recovery can overcome the orbicular pain spots.

In March, the Dow industrials outperformed both the S&P 500 and Nasdaq, indicating alternative for stronger companies as foreign concerns lingered.

Initial claims for unemployment benefits terminal week showed the way of labor mart improvement relic intact, but at a andante pace.

The accumulation precedes Friday's intimately watched employment inform from the Labor Department, which is due to exhibit the U.S. frugalness added 190,000 jobs in March.

Daily intensity was light again, continuing the week's pattern. About 6.9 1000000000 shares traded on the New York Stock Exchange, NYSE Amex and Nasdaq, beneath terminal year's estimated regular cipher of 8.47 billion.

The Dow Jones industrial cipher (.DJI) dropped 30.88 points, or 0.25 percent, to 12,319.73. The Standard & Poor's 500 (.SPX) unfit 2.43 points, or 0.18 percent, to 1,325.83. The Nasdaq Composite (.IXIC) unkind up 4.28 points, or 0.15 percent, to 2,781.07.

For the month, the Dow unkind up 0.76 percent, the S&P drop 0.1 proportionality and Nasdaq unfit 0.04 percent.

That way also evidenced genuine for the whole prototypal quarter, with the Dow ascension 6.4 percent, compared with the S&P's acquire of 5.4 proportionality and the Nasdaq's advance of 4.8 percent.

Berkshire Hathaway's class B shares (BRKb.N) fell 2.1 proportionality to $83.63 a period after the resignation of king Sokol, the Negro widely seen as the directive successor to Warren Buffett to run Berkshire. Sokol hopeless after Buffett revealed that Sokol had bought shares in chemical consort Lubrizol Corp (LZ.N) before pushing Buffett to acquire it.

In an interview on CNBC, Sokol said he did nothing criminal in buying the shares.

Retailers hierarchical among the poorest performers, dragged lower by Carmax Inc (KMX.N), which forfeited 7.2 proportionality to $32.10 after bill fourth-quarter earnings. The S&P Retail finger (.RLX) forfeited 0.76 percent, patch the moneyman discoverer retail finger (.MVR) dropped 1.1 percent.

Advancing stocks outnumbered declining ones on the NYSE by 1,746 to 1,241, patch on the Nasdaq, most quaternary stocks rose for every threesome that fell.

(Reporting by Rodrigo Campos, added news by Chuck Mikolajczak; Editing by Jan Paschal)


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