Stocks Slightly Higher at Open after Data

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.


Posted

in

by

Tags:

Comments

Leave a Reply