US open: Dow Jones trades higher as investors await NFP data
Wall Street stocks were in the green early on Thursday as traders awaited key employment data scheduled for release tomorrow.
As of 1525 GMT, the Dow Jones Industrial Average was up 0.19% at 32,859.98, while the S&P 500 advanced 0.31% to 4,004.36 and the Nasdaq Composite came out the gate 0.53% firmer at 11,637.82.
The Dow opened 61.58 points higher on Thursday, reversing losses registered in the previous session after Federal Reserve chairman Jerome Powell testified on Capitol Hill for a second consecutive day.
Powell warned traders and lawmakers that the central bank may now be forced to raise interest rates higher than previously thought. However, he also pointed out that no decision had been made regarding the FOMC's next policy meeting in March.
With Powell's testimony over and done with, market participants will turn their attention to tomorrow's monthly jobs report, with economists expecting to see the US economy adding 225,000 jobs last month.
On today's macro slate, US-based employers announced 77,770 job cuts in February, according to data firm Challenger, Gray and Christmas, the biggest February reading in 14 years but markedly lower than the 102,943 reported in January.
Elsewhere, jobless claims rose unexpectedly last week, according to the Department of Labor, with the number of initial unemployment claims rising by 21,000 over the week ending 4 March to 211,000. Economists polled by Dow Jones Newswires had forecast a print of 195,000.
No major corporate earnings were slated for release on Thursday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Intel Corp. (INTC) $26.52 2.08%
American Express Co. (AXP) $177.92 1.77%
Microsoft Corp. (MSFT) $258.09 1.73%
Chevron Corp. (CVX) $164.87 1.15%
Nike Inc. (NKE) $121.20 1.12%
Apple Inc. (AAPL) $154.41 1.01%
Home Depot Inc. (HD) $294.03 0.87%
Merck & Co. Inc. (MRK) $109.21 0.86%
Goldman Sachs Group Inc. (GS) $352.26 0.85%
Cisco Systems Inc. (CSCO) $49.52 0.83%
Dow Jones - Fallers
JP Morgan Chase & Co. (JPM) $135.55 -1.63%
Travelers Company Inc. (TRV) $175.80 -1.11%
Walgreens Boots Alliance, Inc. (WBA) $34.19 -0.84%
Johnson & Johnson (JNJ) $151.80 -0.76%
Verizon Communications Inc. (VZ) $37.38 -0.40%
Salesforce.Com Inc. (CRM) $182.87 -0.04%
Dowdupont Inc. (DWDP) $0.00 0.00%
Caterpillar Inc. (CAT) $248.75 0.01%
Amgen Inc. (AMGN) $228.57 0.06%
Dow Chemical Co. (DOW) $56.29 0.06%
S&P 500 - Risers
General Electric Co. (GE) $93.89 7.94%
Phillips 66 Common Stock (PSX) $102.92 3.64%
Paypal Holdings Inc (PYPL) $78.53 3.55%
CH Robinson Worldwide Inc (CHRW) $106.18 3.42%
Valero Energy Corp. (VLO) $136.88 3.09%
Stryker Corp. (SYK) $272.77 2.70%
Dish Network Corp. (DISH) $11.50 2.68%
Marathon Petroleum Corporation (MPC) $131.15 2.57%
Coterra Energy Inc. (CTRA) $25.75 2.41%
HF Sinclair Corporation (DINO) $51.49 2.39%
S&P 500 - Fallers
Svb Financial Group (SIVB) $172.56 -35.57%
Zions Bancorporation (ZION) $43.73 -6.32%
Charles Schwab Corp. (SCHW) $72.18 -5.28%
Comerica Inc. (CMA) $64.63 -3.97%
Northern Trust Corp. (NTRS) $89.18 -3.94%
Raymond James Fin Corp. (RJF) $103.16 -3.16%
Regions Financial Corp. (RF) $21.18 -2.64%
Keycorp (KEY) $16.85 -2.63%
M&T Bank Corp. (MTB) $136.77 -2.57%
Truist Financial Corp. (TFC) $42.68 -2.49%
Nasdaq 100 - Risers
Paypal Holdings Inc (PYPL) $78.53 3.55%
Qurate Retail Inc. (QRTEA) $1.38 3.36%
Dish Network Corp. (DISH) $11.50 2.68%
Intel Corp. (INTC) $26.52 2.08%
Microsoft Corp. (MSFT) $258.09 1.73%
Amazon.Com Inc. (AMZN) $95.52 1.70%
Meta Platforms Inc. (META) $187.78 1.52%
Applied Materials Inc. (AMAT) $120.43 1.50%
KLA-Tencor Corp. (KLAC) $392.96 1.43%
Microchip Technology Inc. (MCHP) $85.60 1.28%
Nasdaq 100 - Fallers
JD.com, Inc. (JD) $43.84 -6.68%
Trip.com Group Limited (TCOM) $35.85 -2.95%
Baidu Inc. (BIDU) $137.95 -2.92%
NetEase Inc. Ads (NTES) $81.77 -1.55%
Kraft Heinz Co. (KHC) $37.87 -1.17%
Wynn Resorts Ltd. (WYNN) $112.39 -1.01%
Ross Stores Inc. (ROST) $108.05 -0.91%
Charter Communications Inc. (CHTR) $350.85 -0.85%
Walgreens Boots Alliance, Inc. (WBA) $34.19 -0.84%
Gen Digital Inc. (GEN) $18.20 -0.82%