Stocks climbed today on Wall Street amid the release of better-than-anticipated data on jobless claims and factory orders. Alcoa, American Express, Bank of America, and JPMorgan Chase led the Dow’s way up by percentage. Meanwhile, the Labor Department said initial jobless claims increased by 4,000 to 367,000 last week. Up from the previous week’s upwardly revised figure of 363,000, economists had expected 370,000 new claims. On another note, the Census Bureau said that factory orders slipped by 5.2% in August, which was better than the 6% decline expected, after rising by a downwardly revised 2.6% in July. Elsewhere, minutes from the most recent Federal Open Market Committee meeting showed the majority of policymakers believed the slow pace of job creation necessitated the implementation of QE3.
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