Stocks Close Higher Thursday

NEW YORK (October 4, 2012)—Stocks closed higher Thursday on Wall Street after an encouraging report on the labor market and better sales from Costco and other retail stores.

The Dow Jones industrial average rose 81 points to close at 13,575 Thursday.

The government said that 367,000 Americans sought unemployment benefits for the first time last week, fewer than economists expected.

Target, Costco and other retailers rose after reporting stronger sales than analysts expected.

The Standard & Poor's 500 index rose 10 points to end the day at 1,461.

The Nasdaq composite rose 14 points to close at 3,149.

Three stocks rose for every one that fell on the New York Stock Exchange where volume was slightly higher than average at 3.6 billion shares.

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