Dow retakes 25,000 for the first time in 2 weeks, as stock market set for fifth gain in a row
U.S. stock indexes opened firmly higher on Thursday, with the Dow on track to book its fifth straight advance, as investors digested a wave of economic reports. The Dow Jones Industrial Average rose 220 points, or 0.9%, at 25,109, set to notch its longest win streak in about 9 weeks and its highest level in about two, coming after a brutal period of selling last week. The S&P 500 index rose 16 points, or 0.6%, at 2,714, while the Nasdaq Composite Index was up 60 points, or 0.8%, at 7,203. In the latest economic data, initial jobless claims rose by 7,000 to 230,000 in the latest week, as had been expected, but claims remain near multi-decade lows. Separately, wholesale prices rose 0.4% in January, led by a rise in oil prices, though core producer prices were also up by 0.4%. The figure was the latest view on inflation, following Wednesday's consumer price index.