NEW YORK (AP) — Stocks are rising at the opening of trading after fewer people joined the unemployment line last week.
The Dow Jones industrial average is up 143 points, or 1.3 percent, at 10,863. The S&P 500 is up 14, or 1.3 percent, at 1,136. The Nasdaq is up 41, or 1.7 percent, at 2,422.
The number of people filing for unemployment benefits for the first time fell below 400,000 last week for the first time in four months. It may be a sign that the job market is slowly improving.
Cisco Systems Inc. reported profit for its latest quarter that topped analysts’ expectations.
The Dow has moved more than 400 points every day this week, the first time it has done that three days in a row since 2008. It fell more almost 520 points on Wednesday.