Stocks Opened Flat as Energy Stocks Weighed

U.S. stocks opened little changed on Thursday as energy stocks took a hit from lower oil prices. The Dow Jones Industrial Average lately fell 3.70 points, or 0.01%, to 26,111.95. The S&P 500 was up 0.23 point, or 0.01%, to 2,802.79. The Nasdaq Composite dropped 5.90 points, or 0.08%, to 7,292.38

Oil prices steadied below a three-year high on Thursday, underpinned by geopolitical risks, with Nigeria the latest producer facing threats to its supply. February West Texas Intermediate oil added 9 cents, or 0.1%, to $64.07 a barrel. Brent crude for March slipped 3 cents, or less than 0.1% to $69.34 a barrel.

U.S. homebuilding fell more than expected in December. Housing starts decreased 8.2 percent to a seasonally adjusted annual rate of 1.192 million units, the Commerce Department said.

In a separate report on Thursday, the Labor Department said initial claims for state unemployment benefits dropped 41,000 to a seasonally adjusted 220,000 for the week ended Jan. 13, the lowest level since February 1973.