Bulls Still in Charge

Stock prices continued to rally on Thursday as investors continued to react to corporate earnings reports that have topped expectations.

The Dow Jones industrial average rose for the fifth time in the past six sessions, up 95.81 points to 8125.43. The Nasdaq composite index gained 43.64 points to 1670.44 and the S&P 500 stock index added 13.24 points to 865.30.

Among local stocks: Illumina gained $1.91 to $36.18; Cubic was up $1.32 to $29.65; and, Bridgepoint Education added 95 cents to $12.05. The company priced its IPO on Tuesday at $10.50.

News that General Growth Properties has filed for bankrucptcy court protection had little impact. The company is the second largest operator of malls and shopping centeres including the Otay Ranch Town Center in Chula Vista.

Better received was the news that initial claims for jobless benefits fell by 53,000 in the past week to 610,000. It was the second consecutive week that the applications declined.

Oil moved higher on Thursday but continues to trade in a narrow range. Crude finished at $49.98 a barrel, up 73 cents.

Contact Us