Dow Jones Posts Tenth Straight Higher Finish
The Dow Jones posted its tenth straight higher finish on Thursday as stocks continued to rally on the back of improving outlook for the U.S. economy. Market sentiment was lifted on Thursday by better than expected data from the labor market.
The Dow Jones ended the day 0.58% higher at 14,539.14, the S&P 500 ended the day 0.56% higher at 1,563.23, and the Nasdaq ended the day 0.43% higher at 3,258.93.
All sectors in the S&P 500 ended the day in green. Energy sector led the gains in the S&P 500 on Thursday, ending the day 2.51% higher. Conglomerates also rose sharply, ending the day 0.89% higher. Financials ended the day 0.80% higher. Technology sector rose 0.77%.
The Men’s Wearhouse Inc. (NYSE: MW) shares were among the biggest gainers on Thursday. The stock rallied after the company said that it hired Jefferies to evaluate its strategic options. The company also reported its quarterly results. Men’s Wearhouse shares ended the day 19.09% higher at $34.62.
Other major gainers in trading on Thursday were EXCO Resources Inc. (NYSE: XCO), which ended the day 9% higher at $7.75, and Apple Inc. (NASDAQ: AAPL), which ended the day 0.92% higher at $432.27.
On the economic front, a report from the Labor Department showed that initial jobless claims fell unexpectedly last week. A separate report from the Labor Department showed that producer prices rose 0.7% in February.
European markets ended mostly higher on Thursday, with the FTSE 100 Index in London closing 0.74% higher, and the CAC 40 Index in Paris closing 0.93% higher. Asian markets also ended mostly higher overnight, with the Nikkei 225 Index in Japan closing 1.16% higher, and the Hang Seng Index in Hong Kong closing 0.28% higher.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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