Investing.com – U.S. stocks made modest gains on Thursday after official U.S. data showed a smaller-than-expected drop in initial jobless claims and consumer prices were unchanged in February.
During early U.S. trade, the Dow Jones Industrial Average was up 0.22%, the S&P 500 index climbed 0.01% and the Nasdaq Composite Index was up 0.03%.
Nike was among the top performers, as the sportswear and equipment supplier gained 4.7% after its fiscal third-quarter profit more than doubled on higher sales in the U.S. and China.
Earlier in the day, the U.S. Labor Department said initial claims for jobless benefits fell by 5,000 to 457,000 in the week that ended Mar. 13. Economists had expected a drop of 7,000.
In a separate report, the department said U.S. consumer prices were flat in February from the previous month, as lower energy costs offset higher car prices.
Meanwhile, stock markets in Europe were mixed: France’s CAC 40 was down 0.07%, Germany's DAX shed 0.02% and the EURO STOXX 50 was down 0.25%.
But Britain's FTSE 100 bucked the trend, rising 0.17%.
Also Thursday, a monthly survey of firms by the Federal Reserve Bank of Philadelphia showed that business improved for the seventh consecutive month at manufacturing firms in the Philadelphia region
During early U.S. trade, the Dow Jones Industrial Average was up 0.22%, the S&P 500 index climbed 0.01% and the Nasdaq Composite Index was up 0.03%.
Nike was among the top performers, as the sportswear and equipment supplier gained 4.7% after its fiscal third-quarter profit more than doubled on higher sales in the U.S. and China.
Earlier in the day, the U.S. Labor Department said initial claims for jobless benefits fell by 5,000 to 457,000 in the week that ended Mar. 13. Economists had expected a drop of 7,000.
In a separate report, the department said U.S. consumer prices were flat in February from the previous month, as lower energy costs offset higher car prices.
Meanwhile, stock markets in Europe were mixed: France’s CAC 40 was down 0.07%, Germany's DAX shed 0.02% and the EURO STOXX 50 was down 0.25%.
But Britain's FTSE 100 bucked the trend, rising 0.17%.
Also Thursday, a monthly survey of firms by the Federal Reserve Bank of Philadelphia showed that business improved for the seventh consecutive month at manufacturing firms in the Philadelphia region