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Stocks head higher after the opening bell; Market on track for a fifth straight gain

By: The Associated Press

Thursday, Mar. 7, 2013 at 9:02 AM | Comments: 0

In this Feb. 20, 2013 photo, Maureen Smaldone, a trader for Brendan E. Cryan and Company, monitors trading activity from her workstation at the New York Stock Exchange. THE CANADIAN PRESS/AP, Bebeto Matthews

NEW YORK, N.Y. - Stocks are rising in early trading on Wall Street after the government reported another decrease in the number of people applying for unemployment benefits.

The Dow Jones industrial average rose 35 points to 14,331 shortly after the opening bell Thursday. The index broke through its previous all-time high on Tuesday and is headed for a fifth straight gain.

The Standard & Poor's 500 index rose three points to 1,544. That index is about 1 per cent below its own record high.

The Nasdaq composite rose three points to 3,225.

The Labor Department said that the number of Americans seeking unemployment aid fell by 7,000 last week, driving the four-week average to the lowest point in five years.

Kroger's stock jumped 4 per cent after the grocery store chain beat analysts' earnings estimates.

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