Stocks Step Up

Indices closed in the green zone Thursday. Microsoft, Bank of America, and Caterpillar led the Dow’s advance. Brands climbed on encouraging economic data. Manufacturing activity increased slightly in October. The Institute for Supply Management’s manufacturing index moved up to 51.7 from 51.5 in September. Elsewhere, the Labor Department said initial jobless claims fell by 9,000 to 363,000 last week. In earnings news, Exxon Mobil said its third-quarter profit dipped 7% to $9.57 billion, or $2.09 a share, from $10.33 billion, or $2.13, in the year-ago period. On another note, consumer confidence was up in October. The Conference Board’s index made a 3.8-point gain. Hitting 72.2, the reading more-or-less matched consensus expectations.

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