Stocks on a winning streak...Jobless claims and productivity due
NEW YORK (AP) — How much longer can the Dow Jones industrial average keep climbing? That's the question investors are asking. The index jumped 42 points to close at 14,296 on Wednesday, a day after it surged past its previous all-time high set in October 2007. The S&P 500 was up about 1 ½ points, closing at 1,541. The Nasdaq composite slipped 2 points to close at 3,222. Futures on Wall Street signal yet another day of gains.
BANGKOK (AP) — International stock markets were mostly higher today following Wall Street's eye-popping performance this week. Japan's Nikkei 225 index had its highest close in four years. Benchmark crude oil rose but remains below $91 per barrel. The dollar fell against the euro and the yen.
WASHINGTON — The Labor Department releases the weekly jobless claims today, along with its fourth-quarter productivity data. Also today, the Commerce Department reports on international trade data for January; mortgage giant Freddie Mac releases weekly mortgage rates; and the Federal Reserve reports its January consumer credit data.
NEW YORK (AP) — Time Warner says it will split off its Time magazine unit into a separate, publicly traded company by the end of the year. CEO Jeff Bewkes says the decision to split off the magazine company will give the parent company "strategic clarity" and enable it to focus on its TV networks, movies and TV production businesses.
TOKYO (AP) — Toyota's president says he's reshaping the company into a leaner operation that's more imbued with the venture spirit of founder Kiichiro Toyoda, his grandfather. Akio Toyoda tells The Associated Press that blindly pursuing growth, a strategy inherited from his predecessor, got him slammed by a cascade of recalls.