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Dow closes above 14,000 for first time

NEW YORK, July 19 (UPI) -- The Dow Jones industrial average closed above the 14,000 mark for the first time Thursday as U.S. stock indexes advanced after strong earnings reports.

The Dow finished at 14,000.41 after closing up 82.19 points, or 0.59 percent, for the day.

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The Nasdaq composite was up 20.55 points, or 0.76 percent, at 2,720.04 and the S&P 500 added 6.90 points, or 0.45 percent, at 1,553.07.

The New York Stock Exchange volume was 1.52 billion shares traded on the exchange, with 2,063 stocks gaining and 1,210 declining.

Crude oil futures rose 87 cents to $75.92 a barrel, a day after a weekly inventory report showed an unexpected drawdown in stockpiles and amid production problems in key oil producer Angola. Crude is up 24 percent for the year.

Bonds gained. The 10-year note was up 2/32, or 62.5 cents for every $1,000 invested, yielding 5.033 percent Thursday.

The dollar strengthened. The euro was trading at $1.3796, up from $1.3793 late Wednesday, while the dollar was at 122.13 yen, compared with 121.98 yen.

In economic news, the U.S. Labor Department said jobless claims were down 8,000 to 301,000 on a seasonally adjusted basis last week. Wall Street forecasts called for an increase of 2,000.

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