Investing.com - U.S. stocks opened higher on Thursday, after disappointing U.S. jobless data and as the minutes of the Federal Reserve's latest meeting indicated that policymakers remain divided on when to start scaling back the bank's stimulus program.
During early U.S. trade, the Dow Jones Industrial Average added 0.25%, the S&P 500 index climbed 0.51%, while the Nasdaq Composite index advanced 0.84%.
The Department of Labor said the number of people who filed for unemployment assistance in the U.S. last week rose by 13,000 to a seasonally adjusted 336,000, slightly higher than forecasts for 330,000.
On Wednesday, the minutes of the Fed’s July meeting showed that officials were "broadly comfortable" with plans to start unwinding the bank’s USD85 billion-a-month bond buying program.
However, officials remain divided over the timing of possible reduction, with almost all committee members agreeing that a change in the asset purchase program was not yet appropriate.
The minutes described recent U.S. economic data as “mixed”, indicating that plans to taper could be pushed back if the economy was to weaken.
In the financial sector, Wells Fargo climbed 0.52% following reports it will eliminate 2,300 jobs in mortgage production due to a drop in demand for refinancings.
U.S. lenders tracked their European counterparts higher, as shares in Bank of America gained 0.73% and Citigroup jumped 1.22%, while Goldman Sachs and JP Morgan rallied 1.24% and 1.08% respectively.
Barrick Gold was also in focus, with shares surging 2.52% after Gold Fields agreed to acquire three of its Australian mines.
Elsewhere, Yahoo! jumped 1.73% as it was said to have attracted more U.S. visitors than Google in July, for the first time since May 2011. Google shares were up 0.36% following the news.
On the downside, Hewlett-Packard dove 10.17% after reporting a decline in its enterprise group revenue and announced an executive team shakeup.
Adding to losses, J.C. Penney tumbled 1.40% after the retailer announced a short-term stockholder rights plan.
Other stocks likely to be in focus included Dollar Tree, Gamestop, Sears, Buckle, Patterson Companies and Abercrombie and Fitch, scheduled to post second quarter results.
Across the Atlantic, European stock markets were sharply higher. The EURO STOXX 50 surged 1.64%, France’s CAC 40 gained 1.36%, Germany's DAX rallied 1.57%, while Britain's FTSE 100 advanced 1.06%.
Also Thursday, the preliminary reading of China’s HSBC manufacturing purchasing managers' index rose to a four-month high of 50.1 in August, up from 47.7 in July. Economists had forecast a reading of 48.3.
During the Asian trading session, Hong Kong's Hang Seng Index rose 0.36%, while Japan’s Nikkei 225 Index slid 0.44%.
During early U.S. trade, the Dow Jones Industrial Average added 0.25%, the S&P 500 index climbed 0.51%, while the Nasdaq Composite index advanced 0.84%.
The Department of Labor said the number of people who filed for unemployment assistance in the U.S. last week rose by 13,000 to a seasonally adjusted 336,000, slightly higher than forecasts for 330,000.
On Wednesday, the minutes of the Fed’s July meeting showed that officials were "broadly comfortable" with plans to start unwinding the bank’s USD85 billion-a-month bond buying program.
However, officials remain divided over the timing of possible reduction, with almost all committee members agreeing that a change in the asset purchase program was not yet appropriate.
The minutes described recent U.S. economic data as “mixed”, indicating that plans to taper could be pushed back if the economy was to weaken.
In the financial sector, Wells Fargo climbed 0.52% following reports it will eliminate 2,300 jobs in mortgage production due to a drop in demand for refinancings.
U.S. lenders tracked their European counterparts higher, as shares in Bank of America gained 0.73% and Citigroup jumped 1.22%, while Goldman Sachs and JP Morgan rallied 1.24% and 1.08% respectively.
Barrick Gold was also in focus, with shares surging 2.52% after Gold Fields agreed to acquire three of its Australian mines.
Elsewhere, Yahoo! jumped 1.73% as it was said to have attracted more U.S. visitors than Google in July, for the first time since May 2011. Google shares were up 0.36% following the news.
On the downside, Hewlett-Packard dove 10.17% after reporting a decline in its enterprise group revenue and announced an executive team shakeup.
Adding to losses, J.C. Penney tumbled 1.40% after the retailer announced a short-term stockholder rights plan.
Other stocks likely to be in focus included Dollar Tree, Gamestop, Sears, Buckle, Patterson Companies and Abercrombie and Fitch, scheduled to post second quarter results.
Across the Atlantic, European stock markets were sharply higher. The EURO STOXX 50 surged 1.64%, France’s CAC 40 gained 1.36%, Germany's DAX rallied 1.57%, while Britain's FTSE 100 advanced 1.06%.
Also Thursday, the preliminary reading of China’s HSBC manufacturing purchasing managers' index rose to a four-month high of 50.1 in August, up from 47.7 in July. Economists had forecast a reading of 48.3.
During the Asian trading session, Hong Kong's Hang Seng Index rose 0.36%, while Japan’s Nikkei 225 Index slid 0.44%.