Investing.com - U.S. stocks opened higher on Thursday, after data showing that U.S. jobless claims fell unexpectedly last week added to signs of a strengthening U.S. economic recovery.
During early U.S. trade, the Dow Jones Industrial Average rose 0.37%, the S&P 500 index added 0.37%, while the Nasdaq Composite index gained 0.35%.
The Department of Labor said the number of people who filed for unemployment assistance in the U.S. fell by 10,000 to a seasonally adjusted 332,000, last week compared to expectations for an increase of 8,000 to 350,000.
A separate report showed that U.S. producer prices rose by a seasonally adjusted 0.7% in February, in line with expectations.
Apple shares jumped 1.32%, as rival Korean group Samsung was set to unveil its Galaxy S4 smartphone in New York City, later in the day. The new smartphone is expected to allow users to scroll with their eyes, and will feature a bigger screen than the Galaxy S3.
Separately, Reuters reported that Apple Marketing Chief Phil Schiller had panned Google's Android software in an interview, calling it "fragmented". Samsung is the biggest corporate user of Android technology.
Among earnings, Men's Wearhouse soared 9.80%, despite weaker-than-expected quarterly earnings, as the men's clothing retailer hired Jefferies to evaluate strategic alternatives for its K&G division and authorized a new USD200 million stock buyback program.
Financial stocks added to gains, as Citigroup climbed 0.51% and JP Morgan advanced 0.72%, while Bank of America and Goldman Sachs rallied 0.83% and 0.91% respectively.
On the downside, U.S.-traded shares of Research in Motion tumbled 1.16%, following a more than 8% surge on Wednesday, after the Canadian smartphone maker said one of its “established partners” is buying 1 million BlackBerry 10 phones.
Google was also on the downside, slipping 0.18%, after the company said it will retire its Google Reader in July, citing declining usage. The news followed Wednesday's announcement that Andy Rubin will step down as head of Google's Android division.
Elsewhere, JPMorgan lowered its recommendation on Amazon shares to "neutral" from "overweight", saying some of the company's key business lines indicate more material deceleration in 2013 gross profit.
The news sent shares in the online retailer down 2.48%.
Across the Atlantic, European stock markets were sharply higher. The EURO STOXX 50 jumped 1.25%, France’s CAC 40 gained 0.72%, Germany's DAX rallied 0.98%, while Britain's FTSE 100 climbed 0.40%.
During the Asian trading session, Hong Kong's Hang Seng Index added 0.28%, while Japan’s Nikkei 225 Index jumped 1.16%.
During early U.S. trade, the Dow Jones Industrial Average rose 0.37%, the S&P 500 index added 0.37%, while the Nasdaq Composite index gained 0.35%.
The Department of Labor said the number of people who filed for unemployment assistance in the U.S. fell by 10,000 to a seasonally adjusted 332,000, last week compared to expectations for an increase of 8,000 to 350,000.
A separate report showed that U.S. producer prices rose by a seasonally adjusted 0.7% in February, in line with expectations.
Apple shares jumped 1.32%, as rival Korean group Samsung was set to unveil its Galaxy S4 smartphone in New York City, later in the day. The new smartphone is expected to allow users to scroll with their eyes, and will feature a bigger screen than the Galaxy S3.
Separately, Reuters reported that Apple Marketing Chief Phil Schiller had panned Google's Android software in an interview, calling it "fragmented". Samsung is the biggest corporate user of Android technology.
Among earnings, Men's Wearhouse soared 9.80%, despite weaker-than-expected quarterly earnings, as the men's clothing retailer hired Jefferies to evaluate strategic alternatives for its K&G division and authorized a new USD200 million stock buyback program.
Financial stocks added to gains, as Citigroup climbed 0.51% and JP Morgan advanced 0.72%, while Bank of America and Goldman Sachs rallied 0.83% and 0.91% respectively.
On the downside, U.S.-traded shares of Research in Motion tumbled 1.16%, following a more than 8% surge on Wednesday, after the Canadian smartphone maker said one of its “established partners” is buying 1 million BlackBerry 10 phones.
Google was also on the downside, slipping 0.18%, after the company said it will retire its Google Reader in July, citing declining usage. The news followed Wednesday's announcement that Andy Rubin will step down as head of Google's Android division.
Elsewhere, JPMorgan lowered its recommendation on Amazon shares to "neutral" from "overweight", saying some of the company's key business lines indicate more material deceleration in 2013 gross profit.
The news sent shares in the online retailer down 2.48%.
Across the Atlantic, European stock markets were sharply higher. The EURO STOXX 50 jumped 1.25%, France’s CAC 40 gained 0.72%, Germany's DAX rallied 0.98%, while Britain's FTSE 100 climbed 0.40%.
During the Asian trading session, Hong Kong's Hang Seng Index added 0.28%, while Japan’s Nikkei 225 Index jumped 1.16%.