This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

US Stocks Rise In Early Trading, S&P Nears Record

By MATTHEW CRAFT

NEW YORK (AP) â¿¿ The Dow Jones industrial average has reached another milestone, recording its longest winning streak since 1996.

The index rose for the tenth straight day Thursday, gaining 83.86 points to close at 14,539.14. That's an increase of 0.6 percent.

The last time the Dow knocked out 10 straight days of gains was November 1996. Back then, Internet companies were still lining up to go public and President Bill Clinton had just won another term in the White House.

"It's just a good run," said Dan Greenhaus, chief global strategist at the brokerage BTIG. "And it speaks to optimism about the future."

Encouraging news on jobs gave the market an early lift. The Standard & Poor's 500 index closed within two points of its all-time high reached in October 2007.

The S&P 500 index gained 8.71 points to 1,563.23, a gain of 0.6 percent.

Signs that the economic recovery is gaining strength have propelled the market higher since the beginning of March.

Last month, the unemployment rate dipped to 7.7 percent, the lowest level since December 2008. Adding to evidence that the job market is improving, fewer Americans sought unemployment benefits last week.

Record corporate profits and reassurances from Federal Reserve officials that they plan to keep interests rates at historically low levels have also helped push stocks higher. U.S. retail spending increased in February at the fastest pace in five months. That came despite higher payroll taxes kicking in at the beginning of the year.

"We've been getting some really good economic statistics: jobless claims today and retail sales yesterday," said Doug Cote, chief market strategist for ING U.S. Investment Management. "And that's positive."

The gains were broad on Thursday, though slight. All 10 industrial groups in the S&P 500 rose, led by energy companies. The Nasdaq composite rose 13.81, or 0.4 percent, to 3,258.93.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs