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By MATTHEW CRAFT and DAVID K. RANDALL, AP Business Writers Matthew Craft And David K. Randall, Ap Business Writers – Thu?Dec?16, 5:40?pm?ET

NEW YORK – A small drop in unemployment claims and a higher profit forecast by FedEx Corp. helped push stocks to two-year highs Thursday.

The Labor Department said first-time claims for unemployment benefits fell last week to 420,000, the third drop in four weeks. The four-week average of claims also slid for the sixth straight week, reaching the lowest level since July 2008. That was before Lehman Brothers collapsed and markets seized up at the height of the financial crisis.

Separately, the Commerce Department said housing starts rose slightly last month, reversing a two-month decline.

Card companies fell sharply after the Federal Reserve proposed as 12-cent cap on the fees that merchants pay every time a customer uses a debit card. Merchants now pay a fee that ranges between 1 to 2 percent of each transaction.

The proposal could cut revenues for major banks and card networks like Visa Inc. and MasterCard Inc. Visa fell 12.7 percent to $67.19. MasterCard fell 10.3 percent to $223.49.

FedEx Corp. rose 1.9 percent to $94.22 after the company raised its earnings predictions for next year because businesses and consumers are shipping more packages. Traders took that as a sign the economy is improving.

The Dow Jones industrial average rose 41.78, or 0.4 percent, to 11,499.25. The broader Standard & Poor's 500 index rose 7.64, or 0.6 percent, to 1,242.87. The Nasdaq composite rose 20.09, or 0.8, to 2,637.31.

Gains came across the market. All 10 company groups in the Standard and Poor's 500 index rose.

Alcoa Inc. was the biggest gainer of the 30 stocks that make up the Dow index, rising 3.5 percent to $14.45. American Express Co. fell the most. The company lost 3.4 percent to $44.57.

Stocks have had a strong December. The Dow index has gained 4.5 over the last month. The S&P 500 has risen 5.3 percent.

A bill to extend Bush-era tax cuts along with unemployment benefits was postponed by the House of Representatives Thursday afternoon. The Senate passed the bill Wednesday. The tax package, a compromise between the White House and Senate Republicans, is expected to boost economic growth next year but also widen the budget deficit.

House Democratic leaders say they'll pass the bill, but only after first voting whether to raise the proposed rate for the estate tax.

The yield on the 10-year Treasury fell to 3.42 percent from 3.53 percent the day before. Investors have been selling Treasurys as their outlook on the economy improves, sending yields on the bonds higher. The 10-year yield traded as low as 2.49 percent as recently as Nov. 4.

The dollar fell 0.2 percent against an index of six heavily traded currencies. Gold fell 1.1 percent.

Two stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 4.4 billion shares.

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NEW YORK – Stocks rose sharply in early trading Wednesday after a batch of economic reports offered some hope that the U.S. economy was improving.

Investors seized on encouraging readings on the labor market and Americans' incomes while shrugging off a steep fall in new home sales and manufacturing orders.

The upturn marked an abrupt reversal from Tuesday, when an exchange of artillery fire between North and South Korea led nervous investors to sell stocks and dash into gold, Treasurys and other assets often used as hiding spots.

The government said first-time claims for unemployment benefits fell 34,000 to 407,000 last week. That was much better than the 435,000 new claims economists had expected.

A separate report showed that Americans' incomes rose 0.5 percent last month, slightly better than expected. Their spending rose 0.4 percent, up slightly from September.

The Dow Jones industrial average rose 127, or 1.2 percent, to 11,163 in late morning trading.

The Standard & Poor's 500 index gained 14, or 1.2 percent, to 1,195. The Nasdaq composite index rose 45, or 1.8 percent, to 2,540.

Safety assets moved lower as investors became more willing to take on risk. The dollar and gold both fell, while Treasury prices edged lower, pushing their yields higher. The yield on the 10-year note inched up to 2.85 percent from 2.77 percent Tuesday.

Investors shrugged off slightly downbeat reports showing declines in sales of manufactured goods and new home sales. Orders for durable goods fell 3.3 percent, while new home sales and median home prices both fell last month. Sales of single-family houses slid 8.1 percent, the fourth time the rate has dropped in the past six months.

European stock markets rose. The Euro Stoxx 50, which tracks the shares of blue-chip companies in countries that use the euro, rose 0.6 percent.

In corporate news, the world's largest maker of farm equipment reported earnings that beat estimates. Deere & Co. posted a $457.2 million profit in the quarter ending Oct. 31, compared with a loss a year earlier. Tiffany & Co. also reported a rise in profit, fueled by strong sales of jewelry in the U.S. and overseas.

U.S. stock and bond markets will be closed Thursday for the Thanksgiving holiday. They will reopen for half-day sessions on Friday.

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NEW YORK (Reuters) – U.S. stocks climbed on Wednesday after data on the labor market and consumer spending signaled the economy was on an upswing.

U.S. consumer spending rose for a fourth straight month and a key inflation gauge was at a record low, while jobless claims fell more than expected, the government reported.

Also, a private survey found U.S. consumer sentiment rose to its highest level since June.

The data helped lift stocks, which had fallen nearly 3 percent since early November after hitting a two-year high. Markets fell sharply on Tuesday on concerns over European debt and tensions on the Korean Peninsula.

"Now you are getting good economic data, and you have a tug of war going on here between an improving economy and geopolitical events," said Paul Mendelsohn, chief investment strategist at Windham Financial Services in Charlotte, Vermont.

"The market is trying to determine how much weight to put on each one of these events."

The Dow Jones industrial average (.DJI) was up 101.79 points, or 0.92 percent, at 11,138.16. The Standard & Poor's 500 Index (.SPX) was up 10.99 points, or 0.93 percent, at 1,191.72. The Nasdaq Composite Index (.IXIC) was up 33.99 points, or 1.36 percent, at 2,528.94.

Wall Street was also boosted by upbeat results from upscale jeweler Tiffany & Co (TIF.N).

Tiffany advanced 4.1 percent to $60.68 after posting quarterly profit and sales that handily beat estimates and forecasting strong holiday sales.

The S&P retail index (.RLX) gained 2.3 percent on bullish prospects for retailers heading into the important holiday shopping season.

Other data showed weakness still remained in the economy, as new durable goods orders had their largest decline in nearly two years and new U.S. single-family home sales fell unexpectedly in October.

Trading volume was light ahead of the U.S. Thanksgiving Day holiday on Thursday.

(Reporting by Chuck Mikolajczak; editing by Jeffrey Benkoe)

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WASHINGTON - The number of people who are looking for unemployment benefits jumped substantially last week, after two weeks of straight decline, showing that the labour market remains under pressure.

Increasing the undermine hopes that unemployment benefits after fallen four times in five weeks, a sustained declining trend.Would signal redundancies were slowing, hiring was ramasser.Au place this claims remain stuck at a high level.

"Those who seek an imminent outbreak of job creation for another week, likely to be disappointed," said Dan Greenhaus, Chief economic strategist at Miller Tabak, in a note to clients.

In the meantime, hand work expenses fell and productivity has rebounded somewhat, although the effectiveness of U.S. workers is at a much lower pace than year last in a sign that companies may have to intensify their hiring.

The Ministry of labour declared Thursday initial claims for unemployment increased by 20,000 to a 457,000 seasonally for the week ending 30 octobre.Les Wall Street analysts surveyed by Thomson Reuters had expected a smaller increase.

The increase comes after claims fell in four of the five preceding weeks.These drops had lodged complaints to their lowest level since July and raised hopes to improve the labour market.

History: New Congress faces difficult economic choices

Instead of this, claims rose back above the level of 450,000, they fluctuated around year-round .they should drop below of 425,000 to report the supported employment earnings.

Emergency benefits program repeatedly extended by Congress, is set to expire at the end of this mois.De many analysts doubt that Congress will extend it to nouveau.Qui could lead up to a million people per month to lose benefits, according to the national employment law project a non-profit group.

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U.S. non-farm productivity has increased more rapidly than expected in the third quarter and unit costs of work hand dropped, according to a report by the Government further underlined an anemic recovery.

Productivity grew at an annual rate of 1.9% after shrinking to 1.8 percent pace in the second quarter, said the Department of the workgroup.troubleshooting 1.9% increase in productivity was still well below the increase of 3.5% discounts for all of 2009, advance more in six years.

Analysts polled by Reuters had forecast productivity, a measure of the hourly production per worker is taken as an indicator of the vitality of the economy or the absence thereof, rising at a rate of 1.0% in the third quarter.

Unit costs of the hand of work, of potential inflationary pressures and closely monitored by, Federal Reserve tonnage fell at a rate of 0.1% after a revision increased 1.3% in the second trimestre.Les economists expect unit hand work costs to increase at a rate of 0.7% in the third quarter.

History: Bernanke: inflation concerns are "overvalued".

In addition, the US Federal Reserve announced Wednesday it would inject $ 600 billion into the economy through governmental purchases of link in the middle of the year next to push the low interest rates and the sickly economy.

Recovery in the economy of the longest and deepest recession since the 1930s suffered a setback, leaving uncomfortably high unemployment .the ' economy grew at a sluggish 2.0 percent annual pace in the third quarter, a touch faster than the rate of 1.7 per cent in the second quarter, but in a way below potential.

Total non-agricultural production grew at a rate of 3.0% during the period from July to September, said the Ministry of labour, accelerated to a rate of 1.6% in the second trimestre.Des hours worked increased at a slower rate of 1.1% after a percentage of 3.5 pace in the second quarter

The Associated Press and Reuters have contributed to this report.

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WASHINGTON - in the less people applied for unemployment benefits last week, the second decline in a row and a sign of hope in the labour market could improve.

However, economists warned that the trend should continue for several weeks before a solid conclusion could be drawn that hiring is picking up.

Claims for unemployment benefits declined by 21,000 to be seasonally in the week ended on 23 October, the Ministry of labour said Thursday.

History: Some, unemployment benefits take on a job

This is the second lowest number for claims for the first time this once année.La wherever it was lower than has been the week of July 10, and this week has been affected by the anniversary of the independence party when the State unemployment offices were closed.

Unemployment benefits have fluctuated around 450,000 for most of this year and dropped below this level of seven times. But they were always bounced back in the next weeks and have not remained less than 450,000 for more than two weeks.

"The decline was unexpected and is a step in the right direction, but it must be duplicated in the weeks to come to indicate that the recovery of the labour market is gathering momentum," Andrew Gledhill, an economist at Moody, parsing said in a note to clients.

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Claims falling partly reflects a decrease of layoffs in the construction sector said Julia Coronado, an economist at BNP Paribas.Ce sector saw high set on foot to the month of August.But if less put foot in construction are one reason claims are going down, which means hiring cannot be collect much elsewhere in the economy, said Coronado.

It expects that the economy has generated a net gain of 60 000 jobs in October, while that checked unemployment up to 9.7% 9.6% month dernier.Le Government publish its report job October November 5.

The average of four weeks for claims less volatile measure, decreased by 5 500 to 453,250, the lowest level since the week of July 24.

Applications for unemployment assistance falls regularly last year after the end of the recession in June 2009, abandonment of 600,000 to approximately 450,000 in January of this year.

Employers did not much hiring in recent months with a low economic growth .the ' economy grew by 1.7 per cent during the period April-June, a worse sluggish pace in normal times and even from the great depression.

Economists expect the Department of commerce Friday will report slightly better growth of 2% for the period from July to septembre.Mais was still sluggish after a deep recession.

Economy needs to increase to at least 5% for a full year to lower the unemployment rate by one percentage point, believe économistes.Le unemployment rate is currently 9.6%, down only slightly from 9.7% in January.

Some companies add to travailleurs.Produits pharmaceutical company Novartis AG said Wednesday it will add 300 new jobs and invest 600 million over the next five years in his seat of research at Cambridge Mass.Et manufacturer of engines Cummins, Inc. said Tuesday it will expand its headquarters in Columbus, Ind., and add at least 350 jobs by 2012.

The number of people continue to receive assistance also fell last week dropped by 122,000 to 4.36 million unemployed, is déclaré.Mais which does not include an additional group receives additional benefits under an emergency programme approved by the Congress during the recession.

Rolls of emergency benefits declined by more than 400,000 approximately 4.7 million for the week ending October 9, the latest large disponibles.Une part of lower data is likely due to people using all unemployment aid they are eligible.

All told, approximately 8.8 million people received unemployment benefits this week.

The Associated Press and Reuters have contributed to this report.

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WASHINGTON--People more applied for unemployment benefits last week, the first rise in three weeks and that firms are reluctant to engage in a slow economy.

Initial claims for unemployment has increased from 13 000 to a seasonally adjusted 462,000, the Ministry of labour declared Thursday .c ' is only the second rise in two months.

Jobless claims have trapped near of 450,000 whole year .Employeurs shortly see much reason to create many new jobs, and some are still poses workers. Railway operator CSX Corp., for example, said Wednesday that it can extend its trains to manage shipments, reducing the need to hire workers more.

"The labour market is frozen," said Zach Pandl, an economist at Nomura Securities. "There is not much hiring is not much to quit, not many layoffs."

A separate report from the Department of commerce has shown the trade deficit widened to 8.8% 46.3 billion .the August ' gap increased due to a 2.1 imports by demand for semiconductors of foreign manufacture, generators and other types of machines industrielles.exportations bends until a slight 0.2 percent jump.

A third report noted that cultivated wholesale on the outside of a high level prices rising food and energy costs.Excluding these two categories of volatile a basic wholesale prices increased 0.1%, the Ministry of labour said.

History: U.S. producer prices up to twice as fast as expected

The data showed a weak economy, which is slowly recovering more than a year after the official end of the récession.Entreprises fail to increase prices due to the high unemployment rate should not facilitate for months, maybe years.

Initial requests, volatile, while figure is regarded as a snapshot in real-time of the labour market.It is also a measurement rate layoffs and an indication of the willingness of companies to hire .the average of four weeks of claims, less volatile measure, increased by 2 250 a - the first increase after six consecutive declines.

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Claims decreased significantly since June 2009, the month end récession.Première times claims topped 600,000 at the end of this month.

But most of the improvement took place last year.Since January, claims have fluctuated around 450,000.

Cash-strapped state and local governments are cutting jobs adding to the ranks of those works and likely to lead to initial claims for unemployment.

State and local governments provide 83,000 jobs in September.The economy has lost a net total of 95,000 jobs overall and the unemployment rate remains blocked to 9.6%.

Local governments cut more jobs in 28 years last month, most of them, teachers and other school staff.

Employers in the private sector, meanwhile, added a total net 64 000 jobs, approximately one-third, what is needed for ébrécher rate ch?mage.Pandl and other economists do not provide hiring companies for many that accelerate the pace of this year.

Total rolls of unemployment benefits, in the meantime, fell last week, probably because many of those work using their benefits.

The number of people continue to receive benefits dropped 112 000 fewer 4.4 million inhabitants, the Department déclaré.Mais which includes not millions of people who receive benefits under the extent programs approved by the Congress.

The number of people on the additional benefits dropped by approximately 340,000 approximately 4.8 million in the week ending September 25 last disponibles.Tout balance data, approximately 8.6 million people received unemployment aid this week.

Redundancies are continued in some areas .Sanofi-Aventis S.A., manufacturer of fourth medication in the world, said last week that remove 1,700 jobs in its U.S. pharmaceutical activities due to the growing generic competition.

And insurance conglomerate Aon said Thursday it will reduce to 1 500 and 1 800 jobs over the next three years as it consolidates its acquisition of Hewitt Associates, a human resources company.

? 2010 The Associated rights Press.Tous réservés.Ce hardware cannot be published, broadcast, rewritten or redistributed.

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WASHINGTON — New U.S. claims for unemployment benefits unexpectedly fell last week, touching their lowest level in three months, according to a Thursday report stresses stability in troubled labour market.

Initial claims for State unemployment benefits fell from 11 000 to a 445,000 seasonally, the lowest since July 10 week, said the Ministry of labour.

Analysts polled by Reuters had forecast claims edging up to 455 000 reported 453,000 antérieurement.Le Government has revised figure prior week until 456,000.

Although data have little bearing on due Friday September employment report that it falls outside the investigation period, it is unlikely to change the perceptions of the Federal Reserve will be a new asset purchase month next programme to maintain low interest rates.

Non-farm payrolls was likely to unchanged last month, more than temporary employment census has ended and broke the Governments of the States and local workers dismissed, then even than hire private collected, according to a Reuters poll.

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An official of the Ministry of labour said that one State had was estimated in the week claims data dernière.La four weeks of new requests without a job, considered to be a better measure of the underlying labour market trends mean the lowest level since July 24 week to shoot the 3 000 to 455,750.

The second straight week of new demands of the most extensive unemployment benefit from a maximum of nine months of 504,000, decreases hit in mid-August.Claims are now in the upper part of the range of 400 000 - 450 000 analysts say is normally associated with the stability of the labour market.

The number of people still receiving benefits after an initial week of aid 48 000 at 4.46 million in the week ended September 25, the lowest since June 26, 4.51 million upward revised the week before.

Analysts polled by Reuters had forecast continues to supposedly claimed inclined to 4.45 million previously reported 4.46 million.

The insured unemployment rate measures the percentage of the insured labour force was unemployed, slipped to 3.5% during this period of 3.6% the week before.

The number of people on the benefits of urgency increased 157,735 to 4.1 million in the week ending September 18.

Some companies are hiring despite weakening economy .Daryl Dulaney, CEO of Siemens Industry Inc., says parent company, Siemens, USA, has 1,200 jobs vacants.Environ 40% require a background in engineering technology or information, and the company has had difficulties in finding qualified candidates, despite the high unemployment rate, Dulaney said.

And, in another sign that the labour market may be slowly healing, the Ministry of labour said advertised jobs increased by 2% to 3.2 million .c ' is the highest since April, when temporary hiring for inflated census figure this month.

Openings of employment in private firms increased slightly 2.85 million higher than 21 months.

Even with increases, the number of available jobs is by far the 4.4 million announced in December 2007, when the recession began.

Reuters and The Associated Press contributed to this report.

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