US stocks climb after 3-day slide

Stocks rose in New York Thursday morning on mixed economic news, reversing a three-day losing trend. The Department of Labor said 30,000 fewer first time jobless claims were filed in the week ending Saturday. The Bureau of Economic Analysis, however, posted a $44.2 billion trade deficit for August, up from July's revised deficit of $42.5 billion. The Dow Jones industrial average added 38.08 points or 0.29 percent in midmorning trading to 13,383.05. The Nasdaq composite index gained 21.34 points or 0.7 percent to 3,073.12. The Standard and Poor's 500 index added 8.24 points or 0.58 percent to 1,440.80. In the preceding three days, the Dow lost a total of 265.18 points, Nasdaq dropped 84.4 points and the S&P shed 28.37 points. The benchmark 10-year treasury note fell 15/32 to yield 1.73 percent. The euro rose to $1.2939 from Wednesday's $1.2876. Against the yen, the dollar rose to 78.53 yen from 78.26 yen. In Japan, the Nikkei 225 index shed 0.58 percent, 49.45 points, to 8,546.78.