Stocks Opened Higher After GDP, Claims Data

U.S. stocks opened higher on Wednesday after data showed weekly initial jobless claims fell more than expected to a
near six-year low and a final reading for second-quarter GDP held steady. The Dow Jones industrial average lately
rose 64.16 points, or 0.42 percent, at 15,337.42. The Standard & Poor’s 500 Index was up 7.13 points, or 0.42
percent, at 1,699.90. The Nasdaq Composite Index gained 22.88 points, or 0.61 percent, at 3,783.98.

The performance of the slowly growing U.S. economy was unchanged in the second quarter, according to the government ’s third and final review. Overall U.S. growth unrevised at 2.5% in the April-to-June period, the Commerce Department said Thursday.

New applications for U.S. jobless benefits fell again last week and hovered just above a six-year low. Initial claims dropped by 5,000 to a seasonally adjusted 305,000 in the week ended Sept. 21, the Labor Department said
Thursday.

Retailer J.C. Penney Co Inc (JCP) said it was pleased with the progress of its turnaround efforts and still expected positive comparable-store sales trends coming out of the third quarter and throughout the fourth.

Barclays Plc will stop offering wealth management services in about 130 countries by 2016 and cut jobs in the unit
as part of an effort to rein in costs and boost profit.