Dow Average Rises to Record as Jobless Claims Decline
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The Dow Jones Industrial Average climbed to another record as the number of Americans who filed for unemployment benefits fell to a six-week low, showing further improvement in the labor market.
Bank of America Corp. rallied 2.9 percent as financial stocks advanced. Boeing Co. jumped 2.5 percent, leading gains among the biggest U.S. companies. Ciena Corp. and JDS Uniphase Corp. surged at least 7.6 percent as Ciena posted earnings that topped estimates. PetSmart Inc. tumbled 6.6 percent as forecasts for earnings and sales growth missed projections.