New York, Feb 24 (IANS) US stocks jumped Thursday after government report showed that the jobs market was steadily improving.
The Dow Jones industrial average gained 46.02 points, or 0.36 percent, at 12,984.69. The Standard & Poor’s 500 added 5.80 points, or 0.43 percent, to 1,363.46. The Nasdaq Composite Index jumped 23. 81 points, or 0.81 percent, to 2,956.98, Xinhua reported.
Major indexes got a lift after the Labor Department said the number of people applying for jobless benefits was unchanged last week at 351,000, the lowest level since March 2008.
Meanwhile, the four-week average of initial claims, which smoothes week-to-week fluctuations, dropped for the sixth straight week to 359,000, also the lowest level in four years.
The broader Standard & Poor’s 500 was standing above the closely watched 1,360 level, a 10-month high seen as a key resistance point.
However, Hewlett-Packard plunged about 6.5 percent after the world’s biggest computer maker posted a sharp decline in earnings and painted a dismal picture of its outlook, which kept a lid on the Dow and the S&P 500.