Comment
0
Tweet
0
Print
RSS Feeds

Stocks move higher after unemployment claims ease

Thursday - 4/25/2013, 12:47pm  ET

Trader James Denaro, center, and Jonathan Corpina, right, work on the floor of the New York Stock Exchange Wednesday, April 24, 2013. World stocks were mostly higher Thursday April 25, 2013 as a slump in orders for U.S. durable goods and other data convinced investors that central banks would continue efforts to help the global economic recovery. (AP Photo/Richard Drew)

NEW YORK (AP) -- 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.


Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.