Stocks Open Mixed, Dow Extends Gains

U.S. stocks opened mixed on Thursday, as investors digested robust economic reports. The Dow Jones Industrial Average lately gained 78.22 points, or 0.46%, to 17,052.53. The S&P 500 was off 7.00 points, or 0.35%, to 1,975.30. The Nasdaq Composite was down 5.88 points, or 0.13%, to 4,543.35.

The economy in the U.S. expanded more than forecast in the third quarter, as gains in government spending and a shrinking trade deficit made up for a slowdown in household purchases. Gross domestic product grew at a 3.5 percent annualized rate in the three months ended September after a 4.6 percent gain in the second quarter, Commerce Department figures showed today in Washington.

Fewer Americans filed applications for unemployment benefits over the past month than at any time in more than 14 years, a sign the strengthening U.S. economy is buoying the labor market.The four-week average of jobless claims fell to 281,000 in the period ended Oct. 25, the lowest since May 2000, from 281,250 the week before, a Labor Department report showed today in Washington.

U.S. bank J.P. Morgan (JPM.N) pays managing directors at its investment bank in London an average of 461,000 pounds ($737,877), substantially more than pay across its rivals, according to a survey.