Business News
Published: Apr 26, 2012
Markets Move Higher Thursday
by Staff

Stocks moved higher in New York Thursday after the U.S. Labor Department said first-time unemployment benefit claims dropped marginally in the week.

It was the second consecutive week of marginal gains with 2,000 fewer claims filed in the previous week and 1,000 fewer in the week that ended Saturday.

The four-week rolling average for first-time claims came to 381,750, an increase of 6,250 from the previous week.

In early afternoon trading, the Dow Jones industrial average added 105.43 points or 0.81 percent to 13,196.15. The tech-dominated Nasdaq composite index gained 18.98 points or 0.63 percent to 3,048.61. The Standard and Poor's 500 index gained 8.16 points or 0.59 percent to 1,398.85.

The 10-year treasury note rose 6/32 to yield 1.966 percent.

The euro rose to $1.3235 from Wednesday's $1.3217. Against the yen, the dollar fell to 80.99 yen from Wednesday's 81.34 yen.

In Tokyo, the Nikkei 225 index added 0.01 percent, 0.82, to 9,561.83.

In London, the FTSE 100 index gained 0.52 percent, 29.83, to 5,748.72. (c) UPI

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