Stocks Opened Higher on Upbeat Data

U.S. stocks opened higher on Thursday as investors digested a number of upbeat economic reports. The Dow Jones Industrial Average lately added 143.59 points, or 0.80%, to 18,079.33. The S&P gained 12.37 points, or 0.59%, to 2,112.81. The Nasdaq Composite was up 40.40 points, or 0.80%, to 5,105.28.

Fewer Americans than forecast filed for unemployment benefits last week, a sign labor market momentum continues to strengthen. Jobless claims declined by 12,000 to 267,000 in the period ended June 13, the lowest since the week ended May 9, a Labor Department report showed Thursday.

U.S. consumer prices in May recorded their largest increase in more than two years as gasoline prices surged, suggesting an energy-driven disinflationary trend had probably run its course.The Consumer Price Index rose 0.4 percent last month after gaining 0.1 percent in April, the Labor Department said.

The U.S. current account deficit widened in the first quarter to its highest level since 2012 likely due to the strong dollar’s drag on overseas profits and exports. The Commerce Department said on Thursday the current account deficit increased 9.9 percent to $113.3 billion.

Norway will increase the counter-cyclical buffer it imposes on banks to 1.5 percent from mid-2016 on the advice of the central bank, the finance ministry said on Thursday.

The Swiss National Bank (SNB) could increase a charge on some Swiss franc deposits with the central bank, Chairman Thomas Jordan said in an interview with broadcaster CNBC on Thursday.

Rite Aid Corp. (RAD) on Thursday cut its earnings guidance for the year to account for its pending acquisition of EnvisionRx. Meanwhile, the company posted a profit for the quarter of $18.8 million, or 2 cents a share, down from $41.4 million, or 4 cents a share, a year earlier. Revenue rose 2.8% to $6.65 billion.

Kroger Co. (KR) on Thursday posted better-than-expected earnings in its first quarter. Kroger reported a profit of $619 million, or $1.25 a share, up from $501 million, or 98 cents a share, a year earlier. For the year ending in January, Kroger now expects to post same-store supermarket sales growth of 3.5% to 4.5%.