NEW YORK, New York (CNN) - CNN's Maribel Aber has your top business and financial news on this Friday, March 8.
Dow continues record run
The Dow finished at a new record Thursday, as the blue chip index and the S&P 500 advanced for a fifth straight day. The Dow Jones industrial average rose 0.2%, reaching a record high of 14,329.49. Earlier in the day, the Dow also climbed to an intraday all-time high of 14,354.69. The S&P 500, now just 2% away from its all-time high, rose 0.2%, while the Nasdaq increased 0.3%.
Good jobs news: Initial claims fall
Fewer Americans filed for their first week of unemployment benefits last week, marking further improvement in the job market. Initial jobless claims fell to 340,000, from an upwardly revised 347,000 the previous week, the Labor Department said Thursday. That was better than economists had expected. Those surveyed by Briefing.com were forecasting 350,000 initial claims were filed last week. The data is notoriously choppy from week to week but is still considered an important indicator of the strength of the job market. Economists often prefer to look at a four-week average to smooth out some of that volatility.
Realtors: Arkansas homes sales rose 11 percent in January
Home sales in Arkansas rose by 11 percent in January, according to a report released Thursday by the Arkansas Realtors Association. The report also said the average price of those homes sold declined by 2.6 percent. The average price of the homes sold in the 43-county area surveyed by the association decreased from $148,428 in January 2012 to $144,471 in January 2013. Statewide valuations in January rose by more than 8 percent from last year.
Subaru recalling almost 50,000 zombie cars
The Japanese automaker Subaru is recalling nearly 50,000 zombie-vehicles because they run the risk of starting themselves, without human intervention. Subaru said the recall applies to 47,419 Legacy, Outback and Impreza models produced from 2010 to 2013. The recall also includes Crosstrek vehicles from 2013.