Stocks reached new records today as initial unemployment claims dropped significantly.
Stocks had yet another reason to reach new record highs on Thursday, after the Department of Labor reported that for the week ending December 21, initial unemployment claims dropped by 42,000 to 338,000.  A Timely Decline in New Jobless Claims
The Dow Jones Industrial Average (NYSEARCA:DIA) picked up 122 points to finish Thursdays trading session at a new, record-high close of 16,479.88 for a 0.75 percent advance, after hitting a record intraday high of 16,483.00.Â
The S&P 500 (NYSEARCA:SPY) climbed 0.47 percent to a record-high closing level of 1,842.02, after hitting a new record intraday high of 1,842.84.
The Nasdaq 100 (NASDAQ:QQQ) advanced 0.33 percent to finish at 3,584. The Russell 2000 (NYSEARCA:IWM) rose 0.07 percent to end the day with a record-high close at  1,162.65.  Stock Trading Alert:  Stocks Ought to Extend Rally
In other major markets, oil (NYSEARCA:USO) advanced 0.45 percent to close at $35.65.
February gold futures advanced $6.70 (0.56 percent) to $1,210.00 per ounce (NYSEARCA:GLD).
Transports were flying high enough to benefit from weightlessness on Thursday, as the Dow Jones Transportation Average (NYSEARCA:IYT) climbed 0.31 percent.
In Japan, stocks climbed to a six-year high as the nations program of not taxing investment accounts took effect. The Nippon Individual Savings Account program allows for a five-year hiatus from taxes on capital gains and dividends from stocks, mutual funds and ETFs.Â
The yen weakened to 104.82 per dollar just before Thursdays closing bell in Tokyo.  A weaker yen causes Japanese exports to be more competitively priced in foreign markets (NYSEARCA:FXY). The Nikkei 225 Stock Average jumped 1.03 percent to 16,174 (NYSEARCA:EWJ).
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Stocks slumped in mainland China as investors were in a bearish mood on Thursday, after the nations central bank refused to inject more funds into the money market.Â
Persistent concerns about liquidity have been keeping the Shanghai Composite Index below its 50-day moving average since December 16. Â The Xinhua News Agency reported that Xu Shaoshi, minister of the National Development and Reform Commission, disclosed that Chinas GDP will expand at 7.6 percent this year, exceeding the target of 7.5 per cent growth.Â
Nevertheless, the nations GDP has contracted from 7.8 percent in 2012 and 9.3 percent in 2011. The Shanghai Composite Index sank 1.58 percent to 2,073 (NYSEARCA:FXI). The Hong Kong Stock Exchange remained closed on Thursday for Christmas (NYSEARCA:EWH).
In Europe, the stock markets were closed for Boxing Day, which never involved Mike Tyson.
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