Dow Closes Above 16,000

U.S. stocks rallied on Thursday, lifting the Dow Jones Industrial Average to its first-ever close
above 16,000, after economic data pointed to a slowly improving labor market and subdued
inflation. The Dow Jones Industrial Average rose 109.17 points, or 0.69%, to finish at 16,009.99.
The S&P 500 gained 14.48 points, or 0.81%, to close at 1,795.85. The Nasdaq Composite advanced
47.88 points, or 1.22%, to 3,969.15.

President Barack Obama said he supports a rule change agreed to by senators on Thursday to allow
simple majority votes on executive and judicial nominees.

A U.S. jury on Thursday awarded Apple Inc $290.45 million in a damages retrial against Samsung
Electronics Co Ltd, the latest battle in global patent litigation between the two mobile giants.

Gap Inc. is reporting a 9.4 percent increase in third-quarter earnings as the fashion retailer’s
turnaround continues. It posted net income of $337 million, or 72 cents per share, in the three-
month period ended Nov. 2. That compares with $308 million, or 63 cents per share, in the year-ago
period. Revenue rose 2.8 percent to $3.98 billion.