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US Stocks Hit Record High, Jobless Claims Decline
Date: 7/18/2013 10:13:16 AM Sender: VOA
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The American flag and a sign for Wall St. are shown outside the New York Stock Exchange, Jul. 15, 2013 in New York.

The best-known U.S. stock index hit a new record high in Thursday morning trading after some strong corporate earning reports, encouraging data on the job market, and reassurances from the head of the Federal Reserve.

Thursday＇s report from the Labor Department showed the number of Americans signing up for unemployment assistance dropped to its lowest level in two months. Jobless claims fell 24,000 to a nationwide total of 334,000.

Economists use unemployment insurance claims to track layoffs, and they say declining claims mean a strengthening job market.

The chairman of the U.S. central bank, Ben Bernanke is telling Congress and investors that efforts to stimulate the economy will continue until improved growth shows they are no longer needed. That may mean that the Fed＇s program of buying billions of dollars in securities each month will not be cut back until later this year, and ultra-low short-term interest rates could stay in place until sometime next year.

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