More Gains for Wall Street Stocks
(NEW YORK) -- A pair of encouraging economic reports kept stocks in positive territory Thursday. The Dow Jones Industrial Average closed up 16.44 points at 14,840.95. The Nasdaq Composite added 26.95 points to 3,620.30. The S&P 500 gained 3.21 to close at 1,638.17. The number of Americans filing for unemployment benefits remains near the lowest level in more than five years.
The Labor Department says weekly applications fell by 6,000 last week to a seasonally adjusted 331,000. At the depths of the recession there were more than 670,000.
The Commerce Department revised its estimate of second-quarter economic growth sharply higher. It now says the U.S. economy grew at a 2.5-percent annual rate from April to June, up from an initial estimate of 1.7 percent.
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