* Cisco top stock on all three indexes; boosts tech sector
* Jobless claims rose less than expected last week
* S&P marked longest winning streak since 2013 on Wednesday
* Indexes up: Dow 0.07 pct, S&P 0.04 pct, Nasdaq 0.17 pct
(Updates to open)
By Yashaswini Swamynathan
Feb 16 U.S. stocks eked out enough gains on
Thursday for the three main indexes to notch a record intraday
high for the sixth straight session, helped by gains in Cisco.
The rally was sparked a week back by President Donald
Trump's vow of a 'phenomenal' tax announcement. Robust economic
data has also been a boost, while bank stocks have risen on
prospects of an upcoming interest rate hike.
Trump tweeted on Thursday: "Stock market hits new high with
longest winning streak in decades. Great level of confidence and
optimism - even before tax plan rollout!"
"The market is likely to take a breather after recklessly
rising to continued record highs without a pause," Perter
Cardillo, chief market economist at First Standard Financial
wrote in a note.
This type of action is due to the market expecting a perfect
fiscal reform and that maybe placed on hold, he said.
The S&P 500 technology index rose 0.29 percent and
gave the broader index its biggest boost. Cisco, which
jumped 2.8 percent to $33.76 was the top stock on the three main
Adding to strong data points of late, a Labor Department
report Thursday that showed the number of Americans filing for
unemployment benefits rose less than expected last week.
At 9:38 a.m. ET (1438 GMT), the Dow Jones Industrial Average
was up 14.36 points, or 0.07 percent, at 20,626.22, while
the Nasdaq Composite was up 10.13 points, or 0.17
percent, at 5,829.57.
The S&P 500 was up 0.96 points, or 0.04 percent, at
percent, at 2,350.21. The index ended higher for the seventh
session in a row on Wednesday, its first such streak since
Six of the 11 major S&P sectors were higher, with utilities
and real estate gaining the most, after two
straight days of losses.
NetEase jumped nearly 10 percent to $287.19
following the Chinese online game developer's revenue beat.
Molina Healthcare tumbled 16 percent to $50.35 after
the health insurer reported a fourth-quarter loss and forecast
2017 profit far below estimates.
Alexion Pharma rose 2.9 percent to $135.84 after
the company gave a 2017 revenue forecast that a Leerink analyst
said would likely quell investor concerns.
Advancing issues outnumbered decliners on the NYSE by 1,425
to 1,132. On the Nasdaq, 1,231 issues rose and 972 fell.
The S&P 500 index showed 39 new 52-week highs and no new
lows, while the Nasdaq recorded 75 new highs and eight new lows.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by