Stocks move higher for a fourth day
Source: AP-EXCITE
By KEN SWEET
NEW YORK (AP) — U.S. stocks were mostly higher in early trading Thursday, helped by a report that showed the number of people seeking unemployment benefits remains at a multi-year low. Hewlett-Packard rose after reporting better results.
KEEPING SCORE: The Dow Jones industrial average was up 67 points, or 0.4 percent, to 17,047 as of 10:40 a.m. Eastern. The Standard & Poor's 500 index rose five points, or 0.3 percent, to 1,991. The Nasdaq composite rose three points, or 0.1 percent, to 4,529.
JOBS, JOBS, JOBS: Claims for unemployment benefits, which are a proxy for the number of people who lost their jobs and are looking for work, fell by 14,000 last week to 298,000. The less-volatile four-week average was 300,750, below the average before the Great Recession.
BANK LAWSUITS: Bank of America rose 28 cents, or 2 percent, to $15.81 after the company announced it had reached a $16.65 billion settlement with the Justice Department over its sale of mortgage-backed securities in the months leading up to the financial crisis. The settlement is by far the largest deal the Justice Department has reached with a bank over the 2008 mortgage meltdown.
FULL story at link.
Trader Mario Innella, center, works on the floor of the New York Stock Exchange Thursday, Aug. 21, 2014. U.S. stocks are opening higher, pushing the Standard & Poor's 500 index closer toward another record high. (AP Photo/Richard Drew)
Read more: http://apnews.excite.com/article/20140821/financial_markets-1702b9f667.html
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