Job Market Improves, Sending Stocks Higher

NEW YORK (March 6, 2014) The Standard & Poor's 500 index closed at another all-time high Thursday after some encouraging news about the U.S. job market.

The S&P 500 rose three points, or 0.2 percent, to end at 1,877 Thursday.

The Dow Jones industrial average rose 61 points, or 0.4 percent, to end the day at 16,421.

The Nasdaq composite lost five points, or 0.1 percent, to close at 4,352.

The number of people who filed for unemployment benefits last week fell more than economists expected, which is a sign that fewer workers are being laid off.

Staples plunged 15 percent after the office supply chain said it would close 10 percent of its stores.

Nearly half of its sales are now generated online.

Bond prices fell.

The yield on the 10-year U.S. Treasury note rose to 2.74 percent.

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