Stocks Opened Flat after Economic Data

U.S. stocks opened unchanged on Thursday, as U.S. economic data showed benign inflation and a historically low level of first-time jobless claims. The Dow Jones Industrial Average lately added 5.99 points, or 0.03%, to 17,914.27. The S&P 500 was down 0.21 point, or 0.01%, to 2,082.21. The Nasdaq Composite fell 5.10 points, or 0.10%, to 4,942.32.

Consumer prices rose slightly in March, as the higher cost of filling up at the gas pump offset lower expenses for groceries and new clothes. The consumer price index rose by seasonally adjusted 0.1% last month after falling 0.2% in February, the Bureau of Labor Statistics said Thursday.

The number of Americans filing for unemployment benefits unexpectedly fell last week, revisiting a level last seen in 1973 as the labor market continues to strengthen despite a sluggish economy. Initial claims for state unemployment benefits decreased 13,000 to a seasonally adjusted 253,000 for the week ended April 9, the Labor Department said on Thursday.

Cheaper jet fuel continues to give airlines a lift, helping Delta boost its first-quarter earnings by 27 percent to $946 million.Atlanta-based Delta Air Lines Inc. earned $200 million more than it did in the first quarter of last year. Revenue dipped 1 percent to $9.25 billion.

Bank of America just reported Q1 earnings that were right in line with expectations, but missed on revenue. The firm reported earnings per share of $0.21 on revenue of $19.51 billion. In the same quarter last year, Bank of America reported adjusted earnings per share of $0.36 on revenue of $21.4 billion.

Oil rose slightly on Thursday after the International Energy Agency (IEA) trimmed its forecast for demand growth but said a fall in oil output in the United States was speeding up. Brent crude futures were up 15 cents from their last close at $44.33 a barrel by 1300 GMT. U.S. crude was up 13 cents at $41.89 a barrel.