By: JeeYeon Park CNBC.com Writer
Stocks ended higher Thursday lifted by an
upbeat jobless claims report, with the Dow and S&P 500 closing at
fresh levels, while weakness in large tech companies limited gains on
the Nasdaq.
"The market seems to be on autopilot," said Joe Saluzzi, co-manager of trading at Themis Trading. "Everyone believes there are some serious issues being overlooked, but no one wants to fight a momentum-fueled rally…Plus, we've been on very light volume; when you see rallies, you want to see buyers."
The Dow Jones Industrial Average advanced for the fourth-consecutive session, gaining 62.90 points to end at 14,865.14, lifted by Pfizer and Travelers. Hewlett-Packard dropped more than 6 percent.
The S&P 500 rose 5.64 points to finish at 1,593.37. The Nasdaq eked out a gain of 2.90 points to close at 3,300.16.
The S&P and Nasdaq are on pace for their second best weekly gains for the year.
The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, ended above 12.
"The market seems to be on autopilot," said Joe Saluzzi, co-manager of trading at Themis Trading. "Everyone believes there are some serious issues being overlooked, but no one wants to fight a momentum-fueled rally…Plus, we've been on very light volume; when you see rallies, you want to see buyers."
The Dow Jones Industrial Average advanced for the fourth-consecutive session, gaining 62.90 points to end at 14,865.14, lifted by Pfizer and Travelers. Hewlett-Packard dropped more than 6 percent.
The S&P 500 rose 5.64 points to finish at 1,593.37. The Nasdaq eked out a gain of 2.90 points to close at 3,300.16.
The S&P and Nasdaq are on pace for their second best weekly gains for the year.
The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, ended above 12.
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