Stocks Opened Higher after Economic Data

U.S. stocks opened higher on Thursday, after the release of gross domestic product and jobless claims data. The Dow Jones Industrial Average lately rose 57.22 points, or 0.22%, to 25,682.81. The S&P 500 added 7.43 points, or 0.26%, to 2,812.80. The Nasdaq Composite gained 21.10 points, or 0.28%, to 7,664.48.

U.S.-priced oil slipped again Thursday, deepening its pullback from the closely watched $60 mark as domestic supply data surprised with a gain and a degree of demand uncertainty nags this market. West Texas Intermediate crude for May delivery fell $1.08, or 1.8%, to $58.36 a barrel. May Brent crude was down $1.18, or 1.7%, to $66.65 a barrel.

The U.S. economy slowed more than initially thought in the fourth quarter. Gross domestic product increased at a 2.2 percent annualized rate, the Commerce Department said on Thursday in its third reading of fourth-quarter GDP growth. That was down from the 2.6 percent pace estimated in February.

The number of people who applied for unemployment benefits in late March fell for the second week in a row to match the lowest level of 2019. Jobless claims declined to 211,000 from a revised 216,000 in the prior week, the government said Thursday.

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