Dow Jones closes higher for seventh day in row

NEW YORK, New York - A climb in the weekly U.S. jobless rate to the highest level in nine months perversely sent stocks higher on Thursday. Bad news in this case is driving markets as it means the Fed is given some incentive to opt towards a rate cut later in the year.

"A bit of softness in the data gives the Fed a window to follow through with its dovish bias," MRB Partners global strategist Phillip Colmar told