Stocks Opened Higher after Claims Data

U.S. stocks opened sharply higher on Thursday, after data pointed to a labor market that continues to strengthen. The Dow Jones Industrial Average lately added 191.09 points, or 1.09%, to 17,775.61. The S&P 500 gained 22.69 points, or 1.12%, to 2,048.59. The Nasdaq Composite rose 51.08 points, or 1.10%, to 4,701.55.

The number of Americans filing new claims for unemployment benefits fell last week, adding to signs of a strengthening labor market. Initial claims for state unemployment benefits slipped by 4,000 to a seasonally adjusted 294,000 for the week ended Jan. 3, the Labor Department said on Thursday.

Ford Motor Co and its Chinese joint ventures sold 1.11 million vehicles in China in 2014, up 19 percent from the previous year, the U.S. car maker said on Thursday. In the month of December, Ford sold 107,244 vehicles, up 13 percent from a year earlier. That follows a 2 percent rise in November and a 1 percent fall in October.

MeadWestvaco Corp.(MWV) plans to fully separate its Specialty Chemicals unit off from the rest of its business, after receiving approval from its board of directors, the packaging company said Thursday.

The Bank of England left its main interest rate unchanged Thursday as weakening oil prices threaten to push annual inflation in the U.K. further below the central bank’s target.