U.S. stocks climbed today as Federal Reserve Chairwoman Yellen said she supports the current QE monetary policy that is being pumped into the stock market and keeping interests rates low to encourage investing and growth.
Initial jobless claims for the week ended Feb. 22 rose 14,000 to 348,000, according to the Labor Department.
Thursday’s gains were broad, with technology and materials stocks helping drive eight of the S&P 500’s 10 sectors higher.
The Dow Jones Industrial Average was 0.46% higher at 16,272.71 while theS&P 500 was up 0.50% to close at a record high of 1,854.30. The Nasdaq gained 0.63% to finish at 4,318.93.