Stocks Opened Slightly Higher after Jobs Data

U.S. stocks opened slightly higher on Thursday as investors assessed a jump in jobless claims. The Dow Jones Industrial Average lately added 31.37 points, or 0.17%, to 17,991.01. The S&P 500 gained 2.15 points, or 0.10%, to 2,100.09. The Nasdaq Composite was down 4.05 points, or 0.08%, to 5,101.52.

Filings for U.S. unemployment benefits unexpectedly rose to the highest level in almost three months. Jobless claims increased by 7,000 to 265,000 in the week ended Oct. 29, a Labor Department report showed Thursday.

Reports on factory orders and the Institute for Supply Management’s non-manufacturing index are scheduled to arrive at 10 a.m. Eastern. Economists predict a 0.2% rise in factory orders for September, as well as an October reading of 56.0% for the ISM gauge.

Oil prices rose Thursday as a weakening U.S. dollar provided a lift, but market sentiment remained cautious after data showed U.S. crude inventories made their largest gains in more than 30 years last week. Crude futures for delivery in December traded at $45.75 a barrel, up 0.9%. January Brent crude rose 1% to $47.34 a barrel.