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The stock market continued its upward climb Thursday to build upon its already historic year of gains.

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U.S. Markets Ascend Again

The stock market continued its upward climb Thursday to build upon its already historic year of gains.

U.S. Markets Ascend Again (AP)

The stock market continued its upward climb Thursday to build upon its already historic year of gains. Traders seemed encouraged by an unexpectedly large drop in claims for unemployment benefits last week. Trading volume was very low today, however, as many portfolio managers have closed out their positions for the year. The Dow Jones Industrial average rose 122.33 points, or 0.8 percent, to 16,479.88. The Standard & Poor’s 500 index rose 8.70 points, or 0.5 percent, to 1,842.02. The Nasdaq composite added 11.76 points, or 0.3 percent, to 4,167.18.

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Written By

Paul Dykewicz is the editorial director of the Financial Publications Group at Eagle Publishing Inc., www.eaglepub.com, of Washington, D.C. Eagle publishes five free, e-letters, 10 weekly trading services and five monthly investment newsletters, Forecasts & Strategies, Successful Investing, Cash Machine, Growth & Dividend Report and The Alpha Investor Letter. He also is the editor of Eagle Daily Investor and the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain."

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