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Stocks Jump; Cisco Soars 10%; Facebook Down 6%

August 16, 2012

Weekly jobless claims rose last week to a seasonally adjusted 366,000, according to the Labor Department, in line with expectations. And housing starts unexpectedly fell in July to a seasonally adjusted annual rate of 746,000 units, while gains from June were revised lower, according to the Commerce Department. (Read More: Homebuilders Begin to See Credit Thaw). "It's been a mixed bag of economic news, but not bad enough for the Fed to move so we're bumping along," said Brian Battle, vice president of trading at Performance Trust Capital Partners. "Good news is that we're not getting worse."

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