Stocks Move Higher After Unemployment Claims Ease
NEW YORK (AP) â¿¿ Stock prices are rising as investors were encouraged by a decrease in claims for unemployment benefits last week and positive news from companies reporting earnings.
The Labor Department said applications for unemployment benefits fell last week to the second-lowest in more than five years.
The Dow Jones industrial average was up 70 points to 14,735 points at noon Thursday, or 0.5 percent.
The Standard & Poor's 500 index rose nine to 1,588, a gain of 0.6 percent. The Nasdaq composite was up 27 to 3,296, or 0.8 percent.Dow Chemical's profits rose even as revenue slipped because the company cut costs and paid down debt. The stock increased 4 percent. Royal Caribbean rose 7 percent as more people booked vacations compared with the same period a year ago.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV