Dow retakes 25000 for the first time in 2 weeks, as stock market set for fifth gain in a row – MarketWatch

This post was originally published on this site

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 DJIA, +0.33% 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 SPX, +0.38% rose 16 points, or 0.6%, at 2,714, while the Nasdaq Composite Index COMP, +0.71% 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.