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Stocks are climbing Thursday on Wall Street after unemployment claims fell to their lowest level in two months.
Energy stocks and banks gained the most in early trading.
Utility stocks, which tend to do well when investors are fearful, were the only industry group in the Standard & Poor's 500 index to fall.
The number of Americans seeking unemployment benefits fell 26,000 last week to 359,000, the lowest figure in nine weeks. A figure consistently below 375,000 is generally enough to lower the unemployment rate. The four-week moving average, a more reliable measure, dropped 16,000 to 374,000 for the week ended Sept. 22.
http://www.usatoday.com/money/marke...hopes-for-economy-to-gain-strength/57846764/1
Energy stocks and banks gained the most in early trading.
Utility stocks, which tend to do well when investors are fearful, were the only industry group in the Standard & Poor's 500 index to fall.
The number of Americans seeking unemployment benefits fell 26,000 last week to 359,000, the lowest figure in nine weeks. A figure consistently below 375,000 is generally enough to lower the unemployment rate. The four-week moving average, a more reliable measure, dropped 16,000 to 374,000 for the week ended Sept. 22.
http://www.usatoday.com/money/marke...hopes-for-economy-to-gain-strength/57846764/1