NEW YORK, NEW YORK -- From CNBC.com U.S. stocks climbed on Thursday, with the Dow Jones Industrial Average posting its first finish above 16,000, as the number of Americans filing for jobless benefits declined to a near two-month low.
"Jobless claims were better on the margins, inflation picked up a little, but no significant change there, and earnings and companies continue to do fairly well. And the market was drifting down, so it puts you a in a position where it doesn't take much good news to resume the rally," said Doug Foreman, co-chief investment officer at Kayne Anderson Rudnick.
Johnson Controls gained after the auto-parts manufacturer hiked its stock-buyback program by $3 billion; Target fell after the discount retailer reported a decline in earnings; Dollar Tree declined after the retailer's third-quarter profit missed expectations, and General Motors gained after the U.S. Treasury said it would sell its remaining stake in the auto maker.
"Jobless claims were better on the margins, inflation picked up a little, but no significant change there, and earnings and companies continue to do fairly well. And the market was drifting down, so it puts you a in a position where it doesn't take much good news to resume the rally," said Doug Foreman, co-chief investment officer at Kayne Anderson Rudnick.
Johnson Controls gained after the auto-parts manufacturer hiked its stock-buyback program by $3 billion; Target fell after the discount retailer reported a decline in earnings; Dollar Tree declined after the retailer's third-quarter profit missed expectations, and General Motors gained after the U.S. Treasury said it would sell its remaining stake in the auto maker.