Stocks close higher on Thursday reports

NEW YORK, Dec. 22 (UPI) -- U.S. stock markets headed higher Thursday on encouraging unemployment news from the Labor Department.

First-time unemployment benefit claims dropped by 4,000 to 364,000 in the week ending Saturday, which held the four-week rolling average to less than 400,000 for the sixth consecutive week.

The Commerce Department revised its third quarter gross domestic product figure to 1.8 percent, down from last month's estimate of 2 percent. The revision was partly offset by a rise in U.S. leading indicators, which climbed 0.5 percent in November beating expectations, which called for a 0.3 percent rise.

Investors banked on the positive news. By close of trading, the Dow Jones industrial average was up 0.51 percent on a gain of 61.91 points to 12,169.65.

The Standard & Poor's 500 index added 10.28 points or 0.83 percent to 1,254.00. The tech-heavy Nasdaq composite index added 21.48 points, 0.83 percent, to 2,599.45.

On the New York Stock Exchange, 2,297 stocks advanced and 766 declined on a volume of 3.2 billion shares traded.

The benchmark 10-year treasury note rose 5/32 to yield 1.955 percent.

The euro edged up to $1.305 compared to Wednesday's $1.3047. Against the yen, the dollar rose to 78.17 yen from Wednesday's 78.06 yen.

In Tokyo, the Nikkei 225 index lost 0.77 percent, 64.82, to 8,395.16.

In London, the FTSE 100 index gained 1.25 percent, 67.23, to 5,456.97.