Policy: Economy

Stocks move higher as US job market improves

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Photo - FILE - In this Monday, March 3, 2014, file photo, specialist Gregg Maloney works on the floor of the New York Stock Exchange. Shares rose ahead of a monthly policy meeting of the European Central Bank on Thursday March 6, 2014 as easing tensions in the Ukraine kept markets stable after their recent bout of volatility.  (AP Photo/Richard Drew, File)
FILE - In this Monday, March 3, 2014, file photo, specialist Gregg Maloney works on the floor of the New York Stock Exchange. Shares rose ahead of a monthly policy meeting of the European Central Bank on Thursday March 6, 2014 as easing tensions in the Ukraine kept markets stable after their recent bout of volatility. (AP Photo/Richard Drew, File)
News,Business,Jobs,Economy,Wall Street,Financial Markets

NEW YORK (AP) — Stocks are moving higher on some encouraging news about the U.S. job market.

The Standard & Poor's 500 index rose seven points, or 0.4 percent, to 1,880 in midday trading Thursday.

The Dow Jones industrial average rose 78 points, or 0.5 percent, to 16,438. The Nasdaq composite rose 10 points, or 0.3 percent, to 4,368.

The number of people who filed for unemployment benefits last week fell much more than economists were expecting. That's a sign fewer workers are being laid off.

Kroger rose 1 percent after the nation's largest supermarket chain reported better sales than investors were expecting.

Staples plunged 11 percent after the office supply chain said it would close 10 percent of its stores because nearly half of its sales are now generated online.

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