Market rises on jobless claims report

The Dow Jones industrial average broke a six-day losing streak Thursday, notching a small gain after the government released better unemployment numbers.

The Dow rose 19.98 points to close at 12,855.04, after rising almost 100 points earlier in the day. The Standard & Poor's 500 index rose 0.25 percent to close at 1,357.99.

Before Thursday, the Dow had fallen six days in a row, its longest losing streak since August.

Investors have worried that job growth is fading. They were encouraged by a Labor Department report that applications for unemployment benefits dropped 1,000 to 367,000 in the week ended May 5.

That pulled the four-week average, which economists watch more closely, down to 379,000 -- closer to the 375,000 level, which suggests job growth is strong enough to reduce the unemployment rate.

Eight out of 10 industry groups in the S&P 500 rose, with only materials and technology stocks declining. Utilities were the biggest gainers, up 0.9 percent, followed by health care and consumer staples.

Tech stocks closed down 0.8 percent, and the Nasdaq composite index fell 0.04 percent to 2,933.64.