Wall Street climbs as profits beat, jobless claims fall
By Caroline Valetkevitch NEW YORK (Reuters) – Stocks rose on Thursday, buoyed by gains in shares of materials companies, including iron ore producer Cliffs Natural Resources Inc , and a drop in weekly jobless claims. Cliffs’ stock jumped 18. 6 percent to $21. 61 after it posted earnings late on Wednesday that were much better than analysts had estimated. [ID:nL2N0DB2FF] The S&P 500 materials index was up 1. 7 percent, leading the S&P 500 higher. Telecommunications companies’ shares also rose following a rally in Verizon Communications Inc . The stock rose 2. 5 percent to $53. . . .
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