NEW YORK— The Dow Jones industrial average is closing above 16,000 for
the first time as encouraging news on the job market pushes stocks higher.
Applications for unemployment benefits dropped last week to the lowest
level since September. The number of applications is close to where it was
before the Great Recession.
The Dow rose 109 points, or 0.7 percent, to 16,010 Thursday.
The Standard & Poor’s 500 rose 14 points, or 0.8 percent, to 1,795.
The Nasdaq composite rose 47 points, or 1.2 percent, to 3,969.
Williams-Sonoma jumped 8 percent after the company said its
third-quarter net income rose as customers spent more at its West Elm and
PBteen stores.
The yield on the 10-year Treasury note fell to 2.79 percent
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