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)