Stocks Slightly Higher at Open after Data
- Thursday, September 10, 2015, 9:59
- Stock Market
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U.S. stocks opened slightly higher on Thursday as investors grappled with mixed economic reports. The Dow Jones Industrial Average lately gained 47.03 points, or 0.29%, to 16,300.60. The S&P 500 was up 0.08 point, to 1,942.12. The Nasdaq Composite gained 6.60 points, or 0.14%, to 4,756.
The number of Americans filing new applications for unemployment benefits fell last week, suggesting a moderation in job growth in August was an aberration. Initial claims for state unemployment benefits dropped 6,000 to a seasonally adjusted 275,000 for the week ended Sept. 5, the Labor Department said on Thursday.
The prices the U.S. paid for imported goods fell by 1.8% in August, marking the biggest decline since the start of the year. Excluding fuel, U.S. import prices declined by a 0.4% last month, the Labor Department said Thursday. Meanwhile, the price of U.S.-made goods exported to other nations dropped 1.4%.
Seagate Technology PLC said Thursday that it would cut 2% of its global workforce, citing weak demand. The Dublin-based data storage firm, which in July cut guidance for the current quarter and most recently reported a 26% decline in quarterly profit, said it would eliminate about 1,050 jobs.
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