NEW YORK – The U.S. stock market is closing sharply higher after investors received encouraging news on corporate earnings and the jobs market.
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The Dow Jones industrial average jumped 225 points, or 1.3 percent, to close at 17,416 Thursday. The Standard & Poor's 500 index rose 19 points, or 1 percent, to 2,021.
The government reported Thursday that weekly claims for unemployment benefits dropped to a 15-year low. Ford, Harley-Davidson, Coach and Ally Financial were among the companies that reported quarterly results that exceeded Wall Street's expectations
The yield on the 10-year Treasury note edged up to 1.76 percent from 1.72 late Wednesday.