Investing.com – U.S. stocks advanced after the open on Thursday, as better-than-expected data on initial jobless claims and upbeat earnings reports boosted market sentiment.
During early U.S. trade, the Dow Jones Industrial Average rose 0.12%; the S&P 500 index climbed 0.44%, while the Nasdaq Composite index added 0.31%.
Earlier in the day, official U.S. data showed that the number of individuals filing for initial jobless benefits in the week ending December 4 fell more-than-expected, declining to a seasonally adjusted 421K. The upbeat data boosted optimism in the U.S. economic recovery.
Meanwhile, in earnings news, shares in wine and spirit maker Brown-Forman surged 1.46% after the company said its second quarter profit rose by 5% to USD 154 million. The company reported that revenue in the quarter rose to USD 905.7 million, beating analyst expectations for revenue of USD 883.6 million.
Shares in Canada’s biggest athletic apparel company Lululemon Athletica soared 14.65% after the company said third quarter revenue jumped by 40% to USD 175.8 million, exceeding analyst expectations for revenue of USD 159.6 million.
Meanwhile, U.S. listed shares of semiconductor manufacturer ASML Holding rallied 6.82% after the company lifted its estimate of fourth quarter order bookings to USD 2.66 billion, up from a previous estimate of USD 1.71 billion.
Elsewhere, shares in the financial sector were broadly higher. Shares in the largest U.S. lender Bank of America soared 2.92%, rivals JP Morgan saw shares jump 1.44%, while shares in Citigroup climbed 1.19%.
In the commodity sector, shares in metal producer Freeport-McMoran Copper and Gold rallied 2.20% after the company announced a 2-for-1 stock split and said shareholders would receive a USD 1-a-share supplemental dividend on December 30. The payment comes on top of the company's regular dividend.
Meanwhile, across the Atlantic, European stock markets were up. The EURO STOXX 50 jumped 0.84%, France’s CAC 40 added 0.74%, Germany's DAX rose 0.04%, while Britain's FTSE 100 gained 0.43%.
Earlier in the day, ratings agency Fitch downgraded Irish sovereign debt, citing the additional costs of restructuring the country’s banking sector and public finances, after Ireland requested a bailout last month.
During early U.S. trade, the Dow Jones Industrial Average rose 0.12%; the S&P 500 index climbed 0.44%, while the Nasdaq Composite index added 0.31%.
Earlier in the day, official U.S. data showed that the number of individuals filing for initial jobless benefits in the week ending December 4 fell more-than-expected, declining to a seasonally adjusted 421K. The upbeat data boosted optimism in the U.S. economic recovery.
Meanwhile, in earnings news, shares in wine and spirit maker Brown-Forman surged 1.46% after the company said its second quarter profit rose by 5% to USD 154 million. The company reported that revenue in the quarter rose to USD 905.7 million, beating analyst expectations for revenue of USD 883.6 million.
Shares in Canada’s biggest athletic apparel company Lululemon Athletica soared 14.65% after the company said third quarter revenue jumped by 40% to USD 175.8 million, exceeding analyst expectations for revenue of USD 159.6 million.
Meanwhile, U.S. listed shares of semiconductor manufacturer ASML Holding rallied 6.82% after the company lifted its estimate of fourth quarter order bookings to USD 2.66 billion, up from a previous estimate of USD 1.71 billion.
Elsewhere, shares in the financial sector were broadly higher. Shares in the largest U.S. lender Bank of America soared 2.92%, rivals JP Morgan saw shares jump 1.44%, while shares in Citigroup climbed 1.19%.
In the commodity sector, shares in metal producer Freeport-McMoran Copper and Gold rallied 2.20% after the company announced a 2-for-1 stock split and said shareholders would receive a USD 1-a-share supplemental dividend on December 30. The payment comes on top of the company's regular dividend.
Meanwhile, across the Atlantic, European stock markets were up. The EURO STOXX 50 jumped 0.84%, France’s CAC 40 added 0.74%, Germany's DAX rose 0.04%, while Britain's FTSE 100 gained 0.43%.
Earlier in the day, ratings agency Fitch downgraded Irish sovereign debt, citing the additional costs of restructuring the country’s banking sector and public finances, after Ireland requested a bailout last month.