Investing.com - U.S. stocks opened higher on Thursday, boosted by encouraging comments by European Central Bank President Mario Draghi, despite downbeat jobless claims data from the U.S.
During early U.S. trade, the Dow Jones Industrial Average added 0.24%, the S&P 500 index rose 0.34%, while the Nasdaq Composite index climbed 0.56%.
Speaking at the bank’s post-policy meeting press conference Draghi said a gradual economic recovery would begin this year, as structural reforms and actions by the ECB to tackle the region’s debt crisis continued to take effect.
Meanwhile, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending January 5 rose by 4,000 to a seasonally adjusted 371,000, compared to expectations for a decline of 2,000 to 365,000.
Jobless claims for the preceding week were revised down to 367,000 from a previously reported 372,000.
In the tech sector, one of Microsoft's top Windows executives said that the group has sold 60 million licenses and upgradesfor its Windows 8 operating system in the 10 weeks since its launch, sending shares up 0.75%.
Meanwhile, Apple jumped 1.12% after CEO Tim Cook met with China Mobile's chairman in Shanghai, to discuss what the company calls "matters of cooperation," amid speculation the tech giant could strike an iPhone carriage deal with China Mobile.
Financial stocks added to gains, as shares in Citigroup inched up 0.02% and JP Morgan climbed 0.55%, while Goldman Sachs and Bank of America rallied 0.85% and 1.22% respectively.
BlackRock was also higher, advancing 1.26%, after the world’s largest asset manager, said it has agreed to buy an exchange-traded funds unit from Credit Suisse Group for an undisclosed sum.
Separately, Morgan Stanley, up 2.45%, reportedly plans to cut 1,600 jobs in its investment banking unit, roughly 6% of staff in that unit, possibly as soon as this week.
On the downside, Tiffany dove 6.31% after the luxury goods retailer said its holiday season same-store sales were unchanged from the same period a year ago, below its own expectations, and added its fiscal-year earnings will be near the low-end of its prior estimates.
Other stocks in focus included oil and gas major Chevron, due to report earnings after the closing bell.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 climbed 0.41%, France’s CAC 40 eased up 0.06%, Germany's DAX advanced 0.50%, while Britain's FTSE 100 added 0.18%.
During the Asian trading session, Hong Kong's Hang Seng Index climbed 0.59%, while Japan’s Nikkei 225 Index advanced 0.7%.
Also Thursday, official data showed that China’s trade surplus widened unexpectedly in December, adding to signs of recovery in the world’s second largest economy.
Chinese exports rose 14.1% in December from a year earlier while imports increased by 6%.
During early U.S. trade, the Dow Jones Industrial Average added 0.24%, the S&P 500 index rose 0.34%, while the Nasdaq Composite index climbed 0.56%.
Speaking at the bank’s post-policy meeting press conference Draghi said a gradual economic recovery would begin this year, as structural reforms and actions by the ECB to tackle the region’s debt crisis continued to take effect.
Meanwhile, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending January 5 rose by 4,000 to a seasonally adjusted 371,000, compared to expectations for a decline of 2,000 to 365,000.
Jobless claims for the preceding week were revised down to 367,000 from a previously reported 372,000.
In the tech sector, one of Microsoft's top Windows executives said that the group has sold 60 million licenses and upgradesfor its Windows 8 operating system in the 10 weeks since its launch, sending shares up 0.75%.
Meanwhile, Apple jumped 1.12% after CEO Tim Cook met with China Mobile's chairman in Shanghai, to discuss what the company calls "matters of cooperation," amid speculation the tech giant could strike an iPhone carriage deal with China Mobile.
Financial stocks added to gains, as shares in Citigroup inched up 0.02% and JP Morgan climbed 0.55%, while Goldman Sachs and Bank of America rallied 0.85% and 1.22% respectively.
BlackRock was also higher, advancing 1.26%, after the world’s largest asset manager, said it has agreed to buy an exchange-traded funds unit from Credit Suisse Group for an undisclosed sum.
Separately, Morgan Stanley, up 2.45%, reportedly plans to cut 1,600 jobs in its investment banking unit, roughly 6% of staff in that unit, possibly as soon as this week.
On the downside, Tiffany dove 6.31% after the luxury goods retailer said its holiday season same-store sales were unchanged from the same period a year ago, below its own expectations, and added its fiscal-year earnings will be near the low-end of its prior estimates.
Other stocks in focus included oil and gas major Chevron, due to report earnings after the closing bell.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 climbed 0.41%, France’s CAC 40 eased up 0.06%, Germany's DAX advanced 0.50%, while Britain's FTSE 100 added 0.18%.
During the Asian trading session, Hong Kong's Hang Seng Index climbed 0.59%, while Japan’s Nikkei 225 Index advanced 0.7%.
Also Thursday, official data showed that China’s trade surplus widened unexpectedly in December, adding to signs of recovery in the world’s second largest economy.
Chinese exports rose 14.1% in December from a year earlier while imports increased by 6%.