US stocks open higher amid data, earnings

GMT 00:48 2015 Friday ,07 August

Arab Today, arab today US stocks open higher amid data, earnings

US stocks
New York - XINHUA

U.S. stocks opened higher on Thursday as investors were digesting initial jobless claims and corporate earnings reports ahead of Friday's highly-watched nonfarm-payrolls report.

In the week ending Aug. 1, the advance figure for seasonally adjusted initial jobless claims was 270,000, an increase of 3,000 from the previous week's unrevised level and slightly below market consensus, reported the U.S. Labor Department Thursday.

The 4-week moving average was 268,250, a decrease of 6,500 from the previous week's unrevised average of 274,750.

Investors will also keep a close eye on Friday's nonfarm-payrolls report for any further clues on the Federal Reserve's first rate hike in almost nine years.

In corporate news, Tesla Motors Inc. slumped over 10 percent in early trading Thursday after the electric carmaker reduced its full-year vehicle delivery outlook.

The company's total revenue was 1.2 billion U.S. dollars for the second quarter of 2015, up nearly 40 percent from a year ago. Tesla said it expects to deliver between 50,000 and 55,000 vehicles in 2015, lower than the 55,000 vehicle deliveries it previously forecast.

Shortly after the opening bell, the Dow Jones Industrial Average added 18.21 points, or 0.10 percent, to 17,558.68. The S&P 500 gained 2.62 points, or 0.12 percent, to 2,102.46. The Nasdaq Composite Index was up 7.65 points, or 0.15 percent, to 5,147.59.

On Wednesday, U.S. stocks shaved part of early gains to close mixed as Wall Street pondered over a string of mixed economic reports.

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