Stock Opened Slightly Higher ahead of Earning Season

U.S. stocks inched higher at open on Thursday, ahead of a first-quarter earnings season that begins in Friday. The Dow Jones Industrial Average lately advanced 57.33 points, or 0.22%, to 26,214.49. The S&P 500 rose 3.96 points, or 0.14%, to 2,892.17, The Nasdaq Composite was down 3.38 points, or 0.04%, to 7,960.86.

Oil futures pulled back early Thursday from their highest finish in months as a monthly report from an international agency said data on demand for crude offered “mixed signals” amid sluggishness in global economies. West Texas Intermediate crude for May delivery shed 57 cents, or 0.9%, at $64.04 a barrel. June Brent lost 62 cents, or 0.9%, to $71.09 a barrel.

Investors are treading carefully ahead of a first-quarter earnings season that begins in earnest Friday, with reports due from two of the nation’s largest banks: JPMorgan Chase & Co. (JPM) and Wells Fargo & Co. (WFC) which could provide clues on the health of the U.S. economy and its banking sector.

Filings for U.S. unemployment benefits unexpectedly dropped, falling to the lowest level since October 1969, as the tight labor market showed little sign of easing.Jobless claims decreased to 196,000 in the week ended April 6, Labor Department figures showed Thursday.

The wholesale cost of U.S. goods and services surged in March, but almost all of the increase reflected the higher cost of gas. The producer price index climbed 0.6% last month.