US stocks improve for fifth straight day
September 11th, 2009 - 7:44 am ICT by IANSNew York, Sep 11 (DPA) US stocks rose for a fifth straight day Thursday as weekly jobless claims fell and energy sectors gained.
Weekly unemployment claims decreased a more-than-expected 26,000 to 550,000, according to the Labour Department.
Treasury Secretary Timothy Geithner, in congressional testimony, said the administration had shifted from “crisis response to recovery” as the country begins to pull out of recession.
The broad-based Standard and Poor’s 500 hit its highest mark since October, climbing 10.77 points, or 1.04 percent, to 1,044.14.
The blue-chip Dow Jones Industrial Average climbed 80.26 points, or 0.84 percent, to 9,627.48. The technology-heavy Nasdaq Composite Index surged 23.63 points, or 1.04 percent, to 2,084.02.
The US currency edged to yet another 2009 low against the euro, dropping to 68.60 euro cents from 68.65 euro cents Wednesday. The dollar also fell to 91.75 Japanese yen from 92.03 yen Wednesday.
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