Stocks Opened Sharply Higher, Jobless Claims Fell

U.S. stocks opened sharply higher on Thursday, after a report on weekly jobless claims came in stronger-than-expected, confirming the Fed’s view that the economy is strengthening. The Dow Jones Industrial Average lately jumped 222.64 points, or 1.28%, to 17,579.51. The S&P 500 gained 26.68 points, or 1.33%, to 2,039.57. The Nasdaq Composite added 62.29 points, or 1.34%, to 4,706.60.

The number of Americans filing for unemployment benefits fell last week as the economy’s continued improvement tempered dismissals. Jobless claims decreased by 6,000 to 289,000 in the week ended Dec. 13, the fewest since early November, a Labor Department report showed today in Washington.

Federal Reserve Chair Janet Yellen restored clarity to the central bank’s monetary policy plans, saying it was on course to raise interest rates, though not right away, after officials issued a statement that some Fed-watchers found confusing.