US markets close higher amid thin, choppy session

In the US markets, stocks closed higher amidst thin, choppy session but ongoing worries over the euro zone crisis limited gains. Both the Dow and S&P 500 clocked gains but lackluster action among tech stocks left the Nasdaq to end narrowly above the neutral line.

Dow Jones Industrial Average advanced 0.96% or 112.85 points at 11,893.79. Nasdaq Composite rose 0.13% or 3.5 points at 2,625.15. Standard & Poor's 500 gained 0.86% or 10.6 points at 1,239.70.

In economic data, the latest weekly initial jobless claims count totaled 390,000, which is less than 400,000 claims that had been expected, on average. The latest tally is also 10,000 less than the prior week's total. 

The trade deficit contracted to 43.1 billion dollars in September from 44.9 billion dollar in the prior month. This is lower than the 45.9 billion dollar deficit expected.

In key data today, watch out for the University of Michigan's consumer sentiment index for November. There are expectations that it will be higher, around 61.5 as compared to the previous month's 60.9.

In the currency space, the euro sees some easing in Asian trade after having bounced off a one-month low against the dollar on signs that the political deadlock in Rome and Greece could be easing. The dollar index meanwhile continues above the 77 mark.

In the commodity space, oil rebounded as investors saw some progress in Italy's efforts to solve its debt problems and slight improvement in US data supported appetite for risk. Nymex prices climbed to USD 97 dollars, while Brent prices hovered around USD 113.

In precious metals, gold fell close to 1,750 levels as fears about political turmoil in Italy and a deepening euro zone debt crisis prompted investors to raise cash by liquidating some positions in the bullion market.