After 15 months, Dow closes above 10,700

The Dow Jones industrial average closed above 10,700 for the first time in 15 months Thursday as investors bet that the corporate earnings season would overcome a rocky start.

Investors are becoming accustomed to seeing jagged indicators on the economy. However, many analysts believe that there will need to be a meaningful pickup in job creation if a 10-month stock rally is to continue.

The Dow rose 29.78 points, or 0.28 percent, to 10,710.55, its highest close since Oct. 1, 2008. The Standard & Poor's 500 index rose 2.78, or 0.24 percent, to 1,148.46, and the Nasdaq composite index rose 8.84, or 0.38 percent, to 2,316.74. - AP