INVESTORS CHEER JOBS REPORT.(BUSINESS)

Byline: HOPE YEN Associated Press

NEW YORK -- A trio of upbeat economic reports ranging from jobless claims to regional manufacturing cheered Wall Street Thursday, prompting investors to pick up shares on strengthening expectations of a solid recovery. The Nasdaq composite index reached another 16-month high.

``Jobless claims were benign, so people were relieved by that,'' said Henry Herrmann, chief investment officer at Waddell & Reed Financial. ``No one wants to see a bad claims or bad employment number. We didn't get one, so that allowed people to focus on other good news.''

The Dow Jones industrial average closed up 26.17, or 0.3 percent, at …