Stocks Gain For Fifth Day On Unemployment Report

NEW YORK (AP) â¿¿ Stocks are closing higher on Wall Street for a fifth straight day, pushing the Dow further into record territory.

The Dow Jones industrial average, which surpassed its previous all-time high two days ago, closed up 33 points at 14,329.

The Standard & Poor's 500 rose nearly three points to 1,544. The S&P is now about 20 points away from its own record high close.

The Nasdaq rose nine points to 3,232. The Dow and S&P gained 0.2 percent, the Nasdaq 0.3 percent.

The catalyst for the advance was the latest evidence that hiring is picking up: a decline in unemployment applications.

Kroger rose 3 percent after reporting strong earnings.

Three stocks rose for every two that fell on the New York Stock Exchange. Volume was average at 3.5 billion shares.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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