Topsy-turvy day on Wall Street; Dow up about 143 points

By Al Olson

Wall Street’s roller-coaster ride continued Thursday as the markets moved wildly throughout the day.

The Dow finished the trading day up about 143 points. The S&P 500 also closed up about 9 points, but the tech-heavy Nasdaq fell about 11 points.

The Dow was up more than 200 points early in the session, only to see all the gains evaporate in afternoon trading. But in the last 30 minutes of trading, the Dow shot back up.

Investors cheered upbeat news on jobless claims and economic growth and on optimism that Europe is taking steps to tackle its debt crisis.

Stocks broke a three-day winning streak Wednesday on worries that Europe would not be able to contain its growing debt crisis. On Wednesday, too, share prices had begun the day higher and then they seesawed before ending the day sharply lower.

Germany's parliament on Thursday approved an expansion of a euro-zone crisis fund, which helped dispel some concerns about Europe.

And in U.S. economic news, jobless claims dropped sharply in the latest week, offering a glimmer of hope that layoffs were easing. And the government reported that economic growth expanded at a slightly faster pace than previously estimated in the second quarter, although still at a very sluggish rate.

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