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Stocks gain for fifth day on unemployment report

7:04 AM, Mar 8, 2013   |    comments
A sign for Wall Street is seen just outside the New York Stock Exchange.(Photo: Timothy A. Clary, AFP/Getty Images)
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NEW YORK (AP) - The Dow is continuing its momentum as it reaches further into record territory.

Stocks closed higher on Wall Street yesterday for a fifth straight day.

The Dow, which surpassed its previous all-time high two days ago, closed up 33 points at 14,329.

The Standard & Poor's 500 rose nearly 3 points to 1,544. The S&P is now about 20 points away from its own record high close.

The Nasdaq rose nearly 10 points to 3,232. The Dow and S&P gained 0.2 percent, the Nasdaq 0.3 percent.

The catalyst for the advance was the latest evidence that hiring is picking up: a decline in unemployment applications.

Three stocks rose for every two that fell on the New York Stock Exchange yesterday. Volume was average at 3.5 billion shares.






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