Stocks Opened Higher as Tech Shares Recovered

U.S. stocks opened higher on Thursday, as technology shares recovered some lost ground. The Dow Jones Industrial Average lately rose 93.97 points, or 0.22%, to 23,942.39. The S&P 500 climbed 5.82 points, or 0.22%, to 2,610.82. The Nasdaq Composite was down 7.90 points, or 0.11%, to 6,941.33.

Oil prices saw modest declines early Thursday, with geopolitical concerns and indications from the Organization of the Petroleum Exporting Countries that members are considering action that could trigger higher prices limiting losses. West Texas Intermediate futures were trading down 11 cents, or 0.2%, lower at $64.27 a barrel. Brent crude fell 45 cents, or 0.7% to $68.31 a barrel.

U.S. consumer spending rose marginally for a second straight month in February as households boosted savings, the latest indication that the economy lost momentum in the first quarter. The Commerce Department said consumer spending increased 0.2 percent last month after a similar gain in January.

Initial U.S. jobless claims declined by 12,000 to 215,000 in the seven days ended March 24, the government said Thursday. The rate of layoffs in the U.S. fell again in late March and dropped to the lowest level since 1973.