Stocks End Thursday on a Tear

US stocks ended Thursday afternoon trading on a high note, gaining for the third straight session this week.
Stocks End Thursday on a Tear
7/8/2010
Updated:
7/8/2010

US  stocks ended Thursday afternoon trading on a high note, gaining for the third straight session this week. The Dow Jones Industrial Average increased by 121 points, or 1.2 percent, while the S&P 500 Index gained 10 points, or 0.9 percent. The technology-heavy Nasdaq Composite inched up 0.7 percent.

Thursday marked the second straight triple-digit gains for the Dow, and the third consecutive increase. Stocks were boosted by a positive government report showing that initial unemployment claims fell last week to 454,000, a better figure than what economists had predicted. Retail sales reports from various major retailers also were mostly positive. The euro currency rose to $1.27, the highest amount versus the dollar since May.