NEW YORK (AP) — An encouraging drop in claims for unemployment benefits helped the stock market edge higher in late morning trading Thursday.
The Dow Jones industrial average was up nine points at 14,970 at 11:09 Eastern Daylight Time.
The Labor Department said that the number of Americans applying for unemployment benefits fell by 11,000 last week to 346,000, a level that's consistent with steady job growth.
"It's a good sign," said Tim Speiss, chairman of the personal wealth advisers practice at EisnerAmper.
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