updated 3/7/2013 4:07:58 PM ET 2013-03-07T21:07:58

NEW YORK (Reuters) - Stocks closed modestly higher on Thursday, with the Dow hitting its third straight record as jobless claims data pointed to a pick-up in the labor market's recovery a day before the closely watched payrolls report.

Based on the latest available data, the Dow Jones industrial average <.DJI> was up 33.25 points, or 0.23 percent, to end unofficially at 14,329.49. The Standard & Poor's 500 Index <.SPX> was up 2.80 points, or 0.18 percent, to finish unofficially at 1,544.26. The Nasdaq Composite Index <.IXIC> was up 9.72 points, or 0.30 percent, to close unofficially at 3,232.09.

(Reporting by Caroline Valetkevitch; Editing by Jan Paschal)

(c) Copyright Thomson Reuters 2013. Check for restrictions at: http://about.reuters.com/fulllegal.asp

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