Upbeat economic data sent U.S. stocks higher Thursday. Positive indicators in America's labor market and housing sector appear to be fueling hopes that a fragile economic recovery will accelerate.
Last month saw the U.S. unemployment rate fall from 10 percent to 9.7 percent. Now, the Labor Department is reporting a substantial drop in the number of newly-laid off Americans filing for jobless benefits. First-time claims for unemployment insurance totaled 440,000 last week, down 43,000 from the previous week. In addition, the four-week average of jobless claims and the total number of people receiving benefits are also down.
Chicago-based Mesirow Financial chief economist Diane Swonk says the latest jobless snapshot provides a bett
