US open: Stocks trade higher following jobless claims data
Wall Street stocks were in the green early on Thursday as investors digested this week's jobless claims report from the Labor Department.
As of 1530 GMT, the Dow Jones Industrial Average was up 0.73% at 33,844.59, while the S&P 500 advanced 0.85% to 3,967.37 and the Nasdaq Composite came out the gate 1.16% stronger at 11,085.97.
The Dow opened 246.67 points higher on Thursday following the previous session's flat performance.
Thursday's primary focus will be the Labor Department's all-important jobless claims report, which revealed Americans filed first-time unemployment claims at an accelerated clip in the week ended 3 December. Initial jobless claims rose by 4,000 to 230,000, up from the prior week's upwardly revised print, while the four-week moving average, which aims to strip out week-to-week volatility, also printed at 230,000 - the highest level seen since the final week of August.
Market participants also continued to assess the likelihood of a coming recession ahead of an expected 50 basis point interest rate hike by the Federal Reserve next week, with many traders now losing faith in the central bank's ability to engineer a soft landing.
In the corporate space, Lululemon Athletica, DocuSign, Broadcom, and Costco will all report earnings after the close of trading.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Boeing Co. (BA) $183.25 3.82%
Chevron Corp. (CVX) $175.95 1.99%
Nike Inc. (NKE) $109.89 1.44%
Caterpillar Inc. (CAT) $232.24 1.42%
Cisco Systems Inc. (CSCO) $48.81 1.32%
3M Co. (MMM) $127.92 1.24%
Dow Chemical Co. (DOW) $51.19 0.96%
JP Morgan Chase & Co. (JPM) $132.75 0.95%
Visa Inc. (V) $209.44 0.78%
Walt Disney Co. (DIS) $92.87 0.78%
Dow Jones - Fallers
Salesforce.Com Inc. (CRM) $128.97 -1.16%
Verizon Communications Inc. (VZ) $36.96 -0.56%
Walmart Inc. (WMT) $148.54 -0.39%
Procter & Gamble Co. (PG) $149.68 -0.37%
Johnson & Johnson (JNJ) $176.97 -0.11%
Amgen Inc. (AMGN) $285.66 -0.03%
Dowdupont Inc. (DWDP) $0.00 0.00%
Honeywell International Inc. (HON) $0.00 0.00%
Microsoft Corp. (MSFT) $244.75 0.16%
Travelers Company Inc. (TRV) $188.38 0.18%
S&P 500 - Risers
Wynn Resorts Ltd. (WYNN) $88.63 4.32%
Helmerich & Payne Inc. (HP) $47.44 4.10%
TripAdvisor Inc. (TRIP) $18.53 4.10%
Boeing Co. (BA) $183.25 3.82%
Freeport-McMoRan Inc (FCX) $39.99 3.74%
Carnival Corp. (CCL) $9.19 3.37%
Halliburton Co. (HAL) $36.23 3.37%
Norwegian Cruise Line Holdings Ltd (NCLH) $15.96 3.23%
Arconic Inc. (ARNC) $22.88 3.16%
Apache Corp. (APA) $45.02 3.11%
S&P 500 - Fallers
Lincoln National Corp. (LNC) $33.01 -6.43%
Activision Blizzard Inc. (ATVI) $74.74 -1.57%
Nektar Therapeutics (NKTR) $2.88 -1.20%
Salesforce.Com Inc. (CRM) $128.97 -1.16%
Public Service Enterprise Group Inc. (PEG) $59.26 -1.15%
Lowe's Companies Inc. (LOW) $205.22 -0.81%
Kimberly-Clark Corp. (KMB) $135.60 -0.80%
Williams Companies Inc. (WMB) $33.53 -0.77%
Campbell Soup Co. (CPB) $55.75 -0.77%
Costco Wholesale Corp. (COST) $478.40 -0.74%
Nasdaq 100 - Risers
Baidu Inc. (BIDU) $121.27 5.84%
NetEase Inc. Ads (NTES) $72.10 5.41%
Trip.com Group Limited (TCOM) $33.81 4.77%
Wynn Resorts Ltd. (WYNN) $88.63 4.32%
JD.com, Inc. (JD) $60.87 4.14%
Mercadolibre Inc. (MELI) $890.13 3.05%
Expedia Group Inc. (EXPE) $93.13 2.58%
Marriott International - Class A (MAR) $160.79 2.23%
Western Digital Corp. (WDC) $34.88 2.17%
Dish Network Corp. (DISH) $14.71 1.80%
Nasdaq 100 - Fallers
T-Mobile Us, Inc. (TMUS) $144.46 -2.91%
Vodafone Group Plc ADS (VOD) $10.49 -1.73%
Activision Blizzard Inc. (ATVI) $74.74 -1.57%
Asml Holdings N.V. (ASML) $592.39 -1.49%
Tesla Inc (TSLA) $171.95 -1.20%
Costco Wholesale Corp. (COST) $478.40 -0.74%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $476.50 -0.74%
Alphabet Inc. Class A (GOOGL) $94.34 -0.63%
Biogen Inc (BIIB) $290.59 -0.53%
Take-Two Interactive Software Inc. (TTWO) $98.97 -0.52%