Dow Ended Up for 10th Straight Day

U.S. stocks ended higher on Thursday, with the Dow Jones industrial average extended its recent winning streak to 10 days and once again closed at a record high, as investors were encouraged by data that showed the labor market’s recovery was improving. The Dow Jones industrial average shot up 83.86 points, or 0.58 percent, to end at 14,539.14. The Standard & Poor’s 500 Index gained 8.71 points, or 0.56 percent, to finish at 1,563.23. The Nasdaq Composite Index advanced 13.81 points, or 0.43 percent, to close at 3,258.93.

The number of Americans filing new claims for unemployment benefits dropped for a third straight week last week, the latest indication the labor market recovery was gaining traction. Initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 332,000 last week, the Labor Department said.

General Motors Co (GM.N) is planning to build an entry-level Chevrolet Corvette that would cost less than $50,000 and widen the iconic sports car brand’s appeal, people familiar with the plans said.

Hostess is moving forward with the sale of Devil Dogs, Yankee Doodles and Yodels to the maker of Little Debbie cakes. The bankrupt company says it picked McKee Foods as the buyer for the Drake’s cakes after nobody stepped forward with a qualifying bid to top its $27.5 million offer.

BlackBerry will offer technology to separate and make secure both work and personal data on mobile devices powered by Google Inc’s Android platform and by Apple Inc’s iOS operating system, the company said on Thursday.

Google Inc (GOOG.O) said it will shut Google Reader on July 1, citing declining usage for the application that compiles content served by web feeds, as it forges ahead with its strategy to focus on fewer products that have more impact.

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