Stocks Open Higher after Jobless Claims Data

U.S. stocks began higher on Thursday, after a larger-than-expected drop in first-time weekly jobless claims. The Dow Jones Industrial Average lately was up 59.88 points, or 0.37%, at 16,417.43, while the S&P 500 advanced 4.80 points, or 0.26%, to 1,838.12. The Nasdaq Composite added 10.37 points, or 0.25%, to 4,165.79.

The number of Americans filing new claims for unemployment benefits fell last week to the lowest level in nearly a month, a hopeful sign for the labor market.Initial claims for state unemployment benefits decreased 42,000 to a seasonally adjusted 338,000, the Labor Department said on Thursday.

Former BlackBerry Ltd. (BBRY) co-founder and co-chief executive officer Mike Lazaridis has reportedly decided not to buy the company via a combined bid with fellow co-founder Douglas Fregin, according to a Securities and Exchange Commission filing on Dec. 24.

Internet companies Facebook Inc. and Twitter Inc. inched up Thursday, extending their recent red-hot December performances.

Gold and silver futures added to gains on Thursday. February gold futures rose $9.60, or 0.8%, to trade at $1,212.90 an ounce in thin trade on the New York Mercantile Exchange.