Business

Stocks gain for fifth day on unemployment report

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The Dow set another record after the number of Americans who filed for jobless benefits fell to a six-week low. Bank of America rallied 2.9%. Boeing, up 2.5%, led gains among the biggest US companies. The S&P 500 rose to the highest since Oct. 31, 2007. That index is just 1.4% below a record as the bull market enters its fifth year. Also helping to lift stocks: The European Central Bank’s president stuck to his view that the euro-area­ economy will gradually recover this year. Financial companies rallied the most out of 10 S&P 500 groups. Investors bought shares of companies tied to economic growth, sending energy and technology stocks higher.

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