The Wall Street Journal Reports,"the Dow Jones Industrial Average rallied, on pace for its biggest gain of 2014, after an upbeat reading from the labor market helped ease concerns about faltering economic growth.
Stocks got a strong start and coasted to session highs in afternoon trading. The Dow rose 167 points, or 1.1%, to 15607, while the S&P 500 tacked on 20 points, or 1.1%, to 1771. The Nasdaq Composite Index advanced 43 points, or 1.1%, to 4055".
Thursday's advance followed a report showing the number of Americans filing new claims for unemployment benefits posted a larger-than-expected decline of 20,000 to a seasonally adjusted level of 331,000.
The employment report helped soothe some anxiety that has roiled stocks in recent weeks, and lifted optimism for Friday's closely watched January jobs report, traders said.
Market players attributed some of Thursday's gains to short-term traders repositioning ahead of the jobs report, cutting bearish positions in case the jobs number comes in better than expected.
Thursday's rally was broad, with consumer-discretionary stocks leading nine of the S&P 500's 10 sectors higher. Only telecommunications stocks fell.
