Dow on its way to breaking six-day losing streak

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Posted: May 10, 2012 11:03 AM
Source: Associated Press

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Topics: dow, stock, wall street, economy, money

Stocks are up at midday, putting the Dow Jones industrial average on track to break a six-day losing streak.

The rise came after the government said claims for unemployment benefits edged lower last week. Investors had been worried that a strong start to hiring this year was coming to an end. The better jobs numbers suggest that hiring will continue to improve.

The Dow is up 43 points to 12,878, after rising as much as 96 points earlier in the morning. The Standard & Poor's 500 index is up almost five points to 1,359.

The tech-heavy Nasdaq composite index fell five points to 2,930. Cisco Systems plunged almost 10 percent after the networking giant warned that technology spending appeared to be slowing down.

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