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U.S. stocks climbed on Thursday, with the Dow Jones Industrial Average posting its first finish above 16,000, as the number of Americans filing for jobless benefits declined to a near two-month low. "Jobless claims were better on the margins, inflation picked up a little, but no significant change there, and earnings and companies continue to do fairly well. And the market was drifting down, so it puts you a in a position where it doesn't take much good news to resume the rally," said Doug Foreman, co-chief investment officer at Kayne Anderson Rudnick. Johnson Controls gained after the auto-parts manufacturer hiked its stock-buyback program by $3 billion; Target fell after the discount retailer reported a decline in earnings; Dollar Tree declined after the retailer's third-quarter profit missed expectations, and General Motors gained after the U.S. Treasury said it would sell its remaining stake in the auto maker.



Major U.S. Indexes

Making a triple-digit jump to close above 16,000 for the first time, the Dow Jones Industrial Average added 109.17 points, or 0.7 percent, to end at 16,009.99. It also turned positive for the week, with its gains led by Intel. Halting its longest-running loss streak in eight weeks, the rose 14.48 points, or 0.8 percent, to 1,795.85, with financials leading gains and telecommunications the worst performing of its 10 major industry groups. The Nasdaq climbed 47.88 points, or 1.2 percent, to 3,969.15.

The CBOE Volatility Index (VIX), a measure of investor uncertainty which has advanced 3.9 percent this week, fell to 12.66. For every share that fell, roughly three gained on the New York Stock Exchange, where nearly 669 million shares traded. Composite volume approached 3.3 billion.