NEW YORK (CNNMoney)
U.S. stocks opened higher Thursday, with the Dow scaling new peaks, following a better-than-expected report on jobless claims.
The Dow Jones industrial average rose 47 points, or 0.3%, climbing to a fresh record high above 14,500. The gains mark the Dow's 10th straight up day -- matching its winning streak in 1996, the year of former Fed Chairman Alan Greenspan's "irrational exuberance" speech.
The S&P 500 added 6 points, or 0.3%, inching toward its record closing high set in 2007. The Nasdaq also gained 0.4%.
Initial jobless claims fell to 332,000 last week, coming in below economists forecasts for 350,000.
Related: Dow's best run since 1996
On the corporate front, Men's Wearhouse (MW) soared 10% Thursday, a day after reporting earnings, a $200 million share buyback and new guidance.
Cosi (COSI) and Krispy Krem (KKD)e will report fourth-quarter results after the bell.
Shares of Blackberry (BBRY) pulled back Thursday, a day after rallying on the announcement that the company received one million orders for its Blackberry 10 device from an unnamed partner.
E*Trade (ETFC)shares fell after a major shareholder said it planned to sell its entire stake in the company.
Related: Fear & Greed Index moves into extreme greed
European markets were higher in midday trading, with Germany's DAX leading the way. A two-day summit of European leaders kicks off Thursday.
Asian markets ended firmer. Japan's Nikkei was up 1.2% but the Shanghai Composite and Hong Kong's Hang Seng continued to lag on talk of efforts to control rising prices.
"We shall take measures, including monetary policy adjustments, to stabilize prices, and lower inflation expectations," Zhou Xiaochuan, China's central bank governor, said Wednesday.
The dollar rose versus the euro and the Japanese yen, but lost ground against the British pound.
Oil priced edged higher, while gold priced slipped.
The price on the 10-year Treasury fell slightly, pushing the yield up to 2.06% from 2.02% late Wednesday. ![]()
First Published: March 14, 2013: 9:46 AM ET
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