Investing.com - U.S. stocks opened higher on Thursday, boosted by data showing that U.S. initial jobless claims fell to their lowest level since February 2008 last week, amid fresh hopes that Spain will soon request a sovereign bailout.
During early U.S. trade, the Dow Jones Industrial Average rose 0.30%, the S&P 500 index climbed 0.59%, while the Nasdaq Composite index advanced 0.65%.
The U.S. Department of Labor said the number of individuals filing for initial jobless benefits last week fell by 30,000 to a seasonally adjusted 339,000, compared to expectations for an increase of 1,000 to 370,000.
Sentiment was also boosted by optimism that a downgrade on Spain by ratings agency Standard & Poor’s would force the country into requesting a formal bailout.
S&P cut the country’s credit rating to BBB-minus with a negative outlook late Wednesday, just one notch above junk status, citing “mounting risks to Spain’s public finances.”
Sprint was one of the session's top gainers, as shares soared 15.67% after the Wall Street Journal reported that Japan's Softbank is in "advanced" talks to buy a USD12.8 billion stake in the wireless communications company.
Financial stocks also posted sharp gains, as U.S. lenders tracked their European counterparts' performances. Shares in Goldman Sachs climbed 0.92% and JP Morgan rallied 1.44%, while Bank of America and Citigroup surged 1.63% and 2.28% respectively.
Separately, Federal authorities are now reportedly using taped phone conversations to build criminal cases related to the multibillion-dollar trading loss at JP Morgan, focusing on calls in which employees openly discussed how to value the troubled bets in a favorable way.
Elsewhere, the world’s largest soft-drinks maker, Coca-Cola added 0.13% amid reports it is currently in discussions to invest about USD10 million in Spotify Ltd., the subscription music-streaming service.
Across the Atlantic, European stock markets were sharply higher. The EURO STOXX 50 jumped 1.14%, France’s CAC 40 rallied 1.25%, Germany's DAX advanced 1.17%, while Britain's FTSE 100 surged 1.23%.
During the Asian trading session, Hong Kong's Hang Seng Index rose 0.38%, while Japan’s Nikkei 225 Index lost 0.58%.
Also Thursday, the Commerce Department said the U.S. trade deficit widened to USD44.2 billion in August, broadly in line with market expectations, as imports outpaced exports.
During early U.S. trade, the Dow Jones Industrial Average rose 0.30%, the S&P 500 index climbed 0.59%, while the Nasdaq Composite index advanced 0.65%.
The U.S. Department of Labor said the number of individuals filing for initial jobless benefits last week fell by 30,000 to a seasonally adjusted 339,000, compared to expectations for an increase of 1,000 to 370,000.
Sentiment was also boosted by optimism that a downgrade on Spain by ratings agency Standard & Poor’s would force the country into requesting a formal bailout.
S&P cut the country’s credit rating to BBB-minus with a negative outlook late Wednesday, just one notch above junk status, citing “mounting risks to Spain’s public finances.”
Sprint was one of the session's top gainers, as shares soared 15.67% after the Wall Street Journal reported that Japan's Softbank is in "advanced" talks to buy a USD12.8 billion stake in the wireless communications company.
Financial stocks also posted sharp gains, as U.S. lenders tracked their European counterparts' performances. Shares in Goldman Sachs climbed 0.92% and JP Morgan rallied 1.44%, while Bank of America and Citigroup surged 1.63% and 2.28% respectively.
Separately, Federal authorities are now reportedly using taped phone conversations to build criminal cases related to the multibillion-dollar trading loss at JP Morgan, focusing on calls in which employees openly discussed how to value the troubled bets in a favorable way.
Elsewhere, the world’s largest soft-drinks maker, Coca-Cola added 0.13% amid reports it is currently in discussions to invest about USD10 million in Spotify Ltd., the subscription music-streaming service.
Across the Atlantic, European stock markets were sharply higher. The EURO STOXX 50 jumped 1.14%, France’s CAC 40 rallied 1.25%, Germany's DAX advanced 1.17%, while Britain's FTSE 100 surged 1.23%.
During the Asian trading session, Hong Kong's Hang Seng Index rose 0.38%, while Japan’s Nikkei 225 Index lost 0.58%.
Also Thursday, the Commerce Department said the U.S. trade deficit widened to USD44.2 billion in August, broadly in line with market expectations, as imports outpaced exports.