国际英语新闻：Wall Street swings to slightly gain on earnings, stronger dollar

NEW YORK, Oct. 21 (Xinhua) -- Wall Street swung to gain on Thursday as better-than-expected earnings, economic job and stronger U.S. dollar moved the markets.

Initial weekly jobless claims fell by 23,000 to 452,000 in the week ended Oct. 16, according to the Labor Department. The decrease was more than expected but still not enough to suggest an improved labor market.

The Labor Department revised last week's figures to show an increase of 26,000 claims, more than double what it originally reported,

The Conference Board said Thursday that its leading U.S. economic index rose 0.3 percent in September. The index for August was revised lower to 0.1 percent, from 0.3 percent, and the July index was revised higher to 0.2 percent, from the 0.1 percent rise initially reported.

"More than a year after the recession officially ended, the economy is slow and has no forward momentum. The LEI suggests little change in economic conditions through the holidays or the early months of 2011," said Ken Goldstein, economist at the Conference Board.

Government regulators said Thursday that Fannie Mae and Freddie Mac could require 363 billion U.S. dollars in additional government payments by 2013.

McDonald's topped third-quarter profit expectations by 4 cents with earnings of 1.29 U.S. dollars a share, the stock jumped more than 1 percent.

Caterpillar, the construction and mining equipment maker, reported better-than-expected third-quarter earnings of 1.22 dollars a share.

UPS said net income rose 81 percent to an adjusted profit of 93 cents a share.

However, the stocks fell as the U.S. dollar rebounded against major currencies.

The Dow Jones Industrial Average gained 38.60 points, or 0.35 percent, to 11,146.57. The S&P 500 added 2.09 points, or 0.18 percent, to 1,180.26, and the Nasdaq was up by 2.28 points, or 0. 09 percent to 2,4759.67.

Light, sweet crude oil for December delivery was down 1.98 dollars a barrel, to 80.56 dollars a barrel, on the New York Mercantile Exchange.

In London, Brent crude oil for December delivery 1.71 dollars, to 81.89 dollars a barrel on the ICE Futures Europe exchange.