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pNEW YORK (Reuters) – U.S. stocks rose slightly in volatile trade on Thursday as positive economic data outweighed a report from FedEx Corp that the global downturn continued to hurt its shipping business./p pThe number of U.S. workers filing new claims for jobless benefits fell unexpectedly last week, and new U.S. housing starts and permits increased to their highest level since November./p pThe Philadelphia Federal Reserve Bank said business activity in the Mid-Atlantic region jumped in September to its highest level since June 2007. For details, see/p pBasically it continues the process of better economic numbers, said David Katz, chief investment officer at Matrix Asset Advisors in New York./p pThe economy is clearly on the mend, but it’s not a straight line./p pFedEx (FDX.N) shares slipped 1.6 percent to $76.93 after it reported a sharp drop in quarterly profit that was in line with estimates, but revenues missed expectations. It said the downturn was weighing on shipping volumes./p pThe Dow Jones industrial average .DJI gained 28.34 points, or 0.29 percent, to 9,820.05. The Standard Poor’s 500 Index .SPX added 2.64 points, or 0.25 percent, to 1,071.40. The Nasdaq Composite Index .IXIC rose 3.44 points, or 0.16 percent, to 2,136.59./p pFriday marks the quarterly expiration and settlement of four different types of September equity futures and options contracts — a convergence known as quadruple witching./p pThe event can lead to greater volume and volatility as traders unwind positions./p p(Reporting by Chuck Mikolajczak; additional reporting by Ryan Vlastelica; editing by Jeffrey Benkoe)/p /p

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