Investing.com - U.S. stocks opened higher on Thursday, after data showed that U.S. jobless claims fell broadly in line with expectations last week amid ongoing uncertainty over the future of the Federal Reserve's stimulus program.
During early U.S. trade, the Dow Jones Industrial Average advanced 0.73%, the S&P 500 index gained 0.66%, while the Nasdaq Composite index climbed 0.59%.
The Department of Labor said the number of people who filed for unemployment assistance in the U.S. last week fell by 9,000 to a seasonally adjusted 346,000, compared to expectations for a drop of 10,000 to 345,000.
A separate report showed that U.S. personal spending was up 0.3% in May, in line with expectations.
Investors had scaled back expectations that the Fed will start tapering bond purchases this year following a downward revision to U.S. first quarter growth on Wednesday.
The Commerce Department revised down first quarter growth to an annualized 1.8% from an initial estimate for 2.4% growth.
Retailer Men's Wearhouse surged 2.28% after ousted executive chairman, George Zimmer, fired off an angry open letter to the company's board.
Among earnings, ConAgra soared 3% after the food producer posted earnings that edged past expectations, while revenue largely met forecasts. The company also said it is benefiting from its Ralcorp acquisition, but is facing some profit headwinds in its commercial foods segment.
KBHome was also on the upside, rallying 2.01% after the homebuilder posted a narrower-than-expected loss and topped revenue expectations.
On the downside, Paychex plummeted 3.26% after reporting late Wednesday fourth-quarter earnings per share of 34 cents, below the average analyst estimate for profit of 37 cents.
Revenue in the period was USD585.3 million, missing the USD586.2 million average projection, sending shares down 2.87% in after-hour trade.
Other stocks likely to be in focus included Nike and Accenture, due to report quarterly results after the closing bell.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 climbed 0.60%, France’s CAC 40 advanced 0.76%, Germany's DAX gained 0.54%, while Britain's FTSE 100 jumped 1.05%.
During the Asian trading session, Hong Kong's Hang Seng Index climbed 0.50%, while Japan’s Nikkei 225 Index surged 2.96%.
Later in the day, the U.S. was to release a report on pending home sales.
During early U.S. trade, the Dow Jones Industrial Average advanced 0.73%, the S&P 500 index gained 0.66%, while the Nasdaq Composite index climbed 0.59%.
The Department of Labor said the number of people who filed for unemployment assistance in the U.S. last week fell by 9,000 to a seasonally adjusted 346,000, compared to expectations for a drop of 10,000 to 345,000.
A separate report showed that U.S. personal spending was up 0.3% in May, in line with expectations.
Investors had scaled back expectations that the Fed will start tapering bond purchases this year following a downward revision to U.S. first quarter growth on Wednesday.
The Commerce Department revised down first quarter growth to an annualized 1.8% from an initial estimate for 2.4% growth.
Retailer Men's Wearhouse surged 2.28% after ousted executive chairman, George Zimmer, fired off an angry open letter to the company's board.
Among earnings, ConAgra soared 3% after the food producer posted earnings that edged past expectations, while revenue largely met forecasts. The company also said it is benefiting from its Ralcorp acquisition, but is facing some profit headwinds in its commercial foods segment.
KBHome was also on the upside, rallying 2.01% after the homebuilder posted a narrower-than-expected loss and topped revenue expectations.
On the downside, Paychex plummeted 3.26% after reporting late Wednesday fourth-quarter earnings per share of 34 cents, below the average analyst estimate for profit of 37 cents.
Revenue in the period was USD585.3 million, missing the USD586.2 million average projection, sending shares down 2.87% in after-hour trade.
Other stocks likely to be in focus included Nike and Accenture, due to report quarterly results after the closing bell.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 climbed 0.60%, France’s CAC 40 advanced 0.76%, Germany's DAX gained 0.54%, while Britain's FTSE 100 jumped 1.05%.
During the Asian trading session, Hong Kong's Hang Seng Index climbed 0.50%, while Japan’s Nikkei 225 Index surged 2.96%.
Later in the day, the U.S. was to release a report on pending home sales.