US open: Stocks rise as initial jobless claims fall
US stocks gained at the opening bell on Thursday after a report showed weekly jobless claims fell.
Jobless claims dropped to 289,000 in the week to 2 August, the Labor Department reported. It was down from a revised 303,000 the week before and better than the 304,000 expected by analysts.
The four-week moving average dropped to 293,500, the lowest since February 2006.
"Overall, this report shows that layoffs remain subdued and is consistent with solid job growth," said analyst Dean Maki from Barclays.
It comes after the government's monthly employment report last Friday showed companies in the US added more than 200,000 jobs for a sixth straight month in July, the longest such period since 1997.
Strong labour market data has increased speculation that the Federal Reserve may be prompted to hike interest rates sooner than expected.
21st Century Fox, Keurig Green Mountain
21st Century Fox advanced as X-Men: Days of Future Past and Rio led to a jump in income at its film business.
Keurig Green Mountain declined after the coffee brewer's profit forecast for the current period disappointed analysts.
Centurylink was a high riser as high-speed internet connections helped second quarter sales to grow.
Carnival Corp. rallied after Bank of America raised its rating on the cruise ship operator.
The 10-year Treasury yield fell two basis points to 2.45%.
West Texas Intermediate crude futures rose 0.1% to $96.93 per barrel, according to the ICE.
RD