Stocks Inch Higher after Jobless Claims Data

U.S. stocks opened slightly higher on Wednesday on the latest piece of economic data indicating the economy is strengthening. The Dow Jones Industrial Average lately gained 42.74 points, or 0.24%, to 18,066.91. The S&P 500 added 1.76 points, or 0.08%, to 2,083.93. The Nasdaq Composite was up 10.18 points, or
0.21%, to 4,775.61.

The number of Americans filing new claims for unemployment benefits unexpectedly fell last week,underscoring the economy’s enduring strength. Initial claims for state unemployment benefits dropped 9,000 to a seasonally adjusted 280,000 for the week ended Dec. 20, the Labor Department said on Wednesday.

Brent oil fell on Wednesday, trading around $60 per barrel weighed down by strong supply in the United States and a rising dollar. Brent for February delivery was down $1.50 to $60.19 at 1327 GMT.