Stocks extend gains after drop in jobless claimsNEW YORK (AP) — Stocks are extending their September rally following more encouraging news on the job market.
By: STEPHEN BERNARD, AP Business Writer , The Jamestown Sun
NEW YORK (AP) — Stocks are extending their September rally following more encouraging news on the job market.
The Labor Department says first-time claims for unemployment benefits fell last week to the lowest level in two months. In another hopeful sign, the trade deficit narrowed in July.
According to preliminary calculations, the Dow Jones industrial average rose 28, or 0.3 percent, to close at 10,415 Thursday. The Dow had risen as much as 90 points earlier.
The Standard & Poor's 500 index rose 5, or 0.5 percent, to 1,104, while the Nasdaq rose 7, or 0.3 percent, to 2,236.
Rising stocks outpaced those that fell three to two on the New York Stock Exchange, where volume was extremely low at 840 million shares.