Money Matters - Simplified

Markets head higher Thursday morning

New York -- U.S. markets rose Thursday morning as a Labor Department report said first-time unemployment benefit claims fell by 23,000 in the week ending Oct. 16.

The Conference Board said leading U.S. economic indicators for September rose 0.3 percent, beating expectations slightly. In an overview of the U.S. economy, the U.S. Federal Reserve said Wednesday that the "national economic activity continued to rise, albeit at a modest pace" in September.

In midmorning trading, the Dow Jones industrial average added 91.88 points, 0.83 percent, to 11,199.85. The Standard & Poor's 500 rose 0.84 percent, 9.84, to 1,188.01. the Nasdaq composite index of tech-dominated stock gained 0.91 percent, 22.41, to 2,479.80.

The benchmark 10-year Treasury note fell 6/32 to yield 2.506 percent.

The euro rose to $1.4021 from Wednesday's $1.3949. Against the yen, the dollar fell to 81.07 yen from Wednesday's 81.18 yen.

In Tokyo, the Nikkei 225 index lost 0.05 percent, 5.12, to 9,376.48.

Copyright 2010 United Press International, Inc. (UPI).

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