Jobless rate hits 7-month low

Associated Press

WASHINGTON

The outlook for American jobs and trade looked a little brighter Thursday.

The number of people who applied for unemployment benefits last week fell to a seasonally adjusted 390,000, the Labor Department said Thursday. That’s the fewest since April.

The U.S. trade deficit narrowed to $43.1 billion in September, its lowest point of the year, the Commerce Department said. Foreign sales of American-made autos, airplanes and heavy machinery pushed exports to an all-time high.

Stocks rose sharply Thursday, one day after the market tumbled nearly 400 points.