Stocks Opened Higher For Fourth Day

U.S. stocks opened modestly higher on Thursday as portfolio positioning moves on the final day of the second quarter trumped economic data. The Dow Jones Industrial Average lately rose 99.86 points to 12,361.28. The Standard & Poor’s 500 Index gained 7.92 points to 1,315.33. The Nasdaq Composite climbed 20.53 points to 2,761.02.

The U.S. government said 428,000 workers filed new applications last week for unemployment benefits — barely changed from the week before — in another sign that momentum in the labor market has petered out. Jobless claims edged down by 1,000 to a seasonally adjusted 428,000 in the week ended June 25, the Labor Department said Thursday.
 
The Greek parliament was set to approve detailed austerity and privatization bills on Thursday to secure emergency funds and avert imminent bankruptcy, but longer-term dangers still lurk.

Lloyds Banking Group said Thursday that it plans to cut 15,000 jobs by the end of 2014 and scale back its overseas operations as part of a larger reorganization aimed at allowing the British government to sell its stake in the lender.

Electronics retailer Best Buy will carry its Wi-Fi version of the HP TouchPad, The devices will be available to test, try and/or buy at all Best Buy U.S. stores and online starting Friday. Later next month, Best Buy will also offer a full line of HP TouchPad accessories.