NEW YORK (AP) – Wall Street edged higher in light pre-holiday trading Thursday as investors, awaiting the release of March employment figures, remained cautiously optimistic after their recent buying streak.

There was a subdued tone to trading as investors adjusted portfolios ahead of a three-day weekend; the stock market is closed for Good Friday. Investors were being particularly careful because they won’t be able to trade on Friday’s Labor Department’s employment report until the market reopens Monday morning.

There was little reaction to the department’s report that first-time claims for unemployment benefits rose to their highest weekly level since March 3, which indicated companies might be struggling to cope with sluggish growth in the national economy.

After five straight advances in the Dow Jones industrial average, the index spent most of Thursday’s session in negative territory, before moving higher at about midday.

“The market went up on fumes this week,” said Philip S. Dow, managing director of equity strategy at RBC Dain Rauscher. “Nobody has any wild expectations to the positive for the jobs report. But, barring some kind of negative report, I still think we’ll see the market tread water.”

In midafternoon trading, the Dow rose 29.58, or 0.24 percent, to 12,559.63.

Broader stock indicators were also higher. The Standard & Poor’s 500 index was up 3.75, or 0.26 percent, at 1,443.12, and the Nasdaq composite index rose 8.49, or 0.35 percent, to 2,467.18.

Bonds fell slightly, with the yield on the benchmark 10-year Treasury note rising 4.67 percent from 4.65 percent late Wednesday.

The dollar was mixed against other major currencies, and sank to two-year lows against the euro ahead of the long weekend and concerns about interest rates. Gold prices rose during the session.

Oil prices, which have risen during the past week because of tensions in the Middle East, advanced again. Investors are now focused on energy inventories and demand, and sent a barrel of light sweet crude down 53 cents to $63.85 on the New York Mercantile Exchange.

DaimlerChrysler AG shares surged $2.77, or 3.4 percent, to $83.33 after billionaire investor Kirk Kerkorian’s Tracinda Corp. approached the German automaker’s board about acquiring its Chrysler unit. He has held stakes in Chrysler since the 1990s, and at one point bid to acquire the full company.

The bid also sent shares of General Motors Corp. up 52 cents to $31.55. Kerkorian was previously GM’s largest individual shareholder, before selling his stake in December.

Micron Technology Inc. pressured technology stocks after the flash memory maker posted disappointing second-quarter results late Wednesday. The company swung to a loss as costs swelled and prices weakened. Shares fell 45 cents, or 3.7 percent, to $11.62.

Beer and wine maker Constellation Brands Inc. rose 67 cents, or 3.2 percent, to $21.49 after it reported fourth-quarter profit grew 26 percent. Strong wine sales helped the company offset a decline in imported beer, and competition in the British market.

Mattress maker Sealy Corp. fell 86 cents, or 4.8 percent, to $17 after it reported it charged lower prices to maintain sales growth. The company reported first-quarter profit rose 7 percent.

Dell Inc. reported late Wednesday it will not file its annual report on time, citing delays in completing an internal investigation into its account practices. Shares of the personal computer maker, which has also delayed its second-quarter and third-quarter reports, rose 4 cents to $23.38.

Take Two Interactive Software Inc. fell 8 cents to $21.35 after the video game maker disclosed that a federal probe of stock option practices has turned into a formal regulatory investigation. The Securities and Exchange Commission is now able to subpoena witnesses in its probe, the company said in a regulatory filing late Wednesday.

Barnes & Noble Inc. rose 91 cents, or 2.3 percent, to $40.71 after analysts said the book seller likely won’t have to restate earnings results after its internal investigation into backdated stock options. The company announced late Wednesday that it found numerous instances of improperly dated option grants, and would need to decrease retained earnings by $22.8 million.

Shareholders of Harrah’s Entertainment Inc. are to vote in Las Vegas on a buyout proposal from Texas Pacific Group and Apollo Management. The firms want to take the casino operator private. The stock rose 13 cents to $84.89.

Advancing issues outnumbered decliners by about 4 to 3 on the New York Stock Exchange, where volume came to 772.2 million shares.

The Russell 2000 index of smaller companies was up 2.38, or 0.29 percent, at 813.17.

Overseas, Japan’s Nikkei stock average closed lower by 0.30 percent. At the close, Britain’s FTSE 100 was up 0.51 percent, Germany’s DAX index rose 0.37 percent, and France’s CAC-40 added 0.04 percent.