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Industrial shares lead sharp jump on Wall Street

NEW YORK - U.S. stocks soared on Thursday, with major indexes up more than 1.5 percent in a broad rally, as strong results from industrial bellwethers reassured investors that corporations continue to fare well despite concerns about global economic growth.

Recent Business News

Caterpillar profit beats view, raises outlook; shares surge

- Caterpillar Inc shares jumped more than 5 percent on Thursday after it reported a stronger-than-expected quarterly profit and raised its 2014 outlook, citing strong demand from the North American energy and construction industries.

2:10pm EDT

Sears to close stores, lay off about 5,500: Seeking Alpha

- Sears Holdings Corp is shuttering more than 100 stores and laying off at least 5,457 employees, investor website Seeking Alpha reported on Thursday, indicating the struggling retailer may be stepping up store closures.

3:03pm EDT

U.S. airlines report strong third quarter profits

- Several U.S. airlines reported strong third-quarter profits on Thursday, helped by falling fuel costs, with many topping Wall Street's earnings per share estimates.

12:29pm EDT

Fewer customers drop Comcast cable subscriptions

NEW YORK - Comcast Corp reported higher quarterly revenue and income on Thursday as more people signed up for its high-speed Internet service and fewer customers dropped their cable subscriptions.

1:19pm EDT

U.S. factory activity growth slips in October: Markit

NEW YORK - The U.S. manufacturing sector slowed in October to its lowest rate of growth since July, while a gauge of new orders hit its lowest level since January, an industry report showed on Thursday.

9:50am EDT

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