Stocks Opened Slightly Higher after Economic Data

U.S. stocks opened slightly higher on Thursday, ahead of a holiday weekend, as investors weighed a stream of data and economic reports. The Dow Jones Industrial Average lately rose 117.96 points, or 0.4%, to 26,567.50. The S&P 500 advanced 4.88 points, or 0.2%, to 2,905.33. the Nasdaq Composite edged up 0.82 point, or 0.01%, to 7,996.90.

Oil futures were confined to a tight range early Thursday but remained near the roughly five-month highs struck in recent sessions as bigger supply questions color trading sentiment. West Texas Intermediate crude for May delivery slipped 6 cents, or less than 0.1%, to $63.70 a barrel. June Brent crude lost 15 cents, or 0.2%, to $71.47 a barrel.

The number of Americans filing for unemployment benefits dropped to the lowest level in nearly half a century.The Labor Department says claims for jobless aid fell by 5,000 last week to 192,000, lowest since September 1969.

Sales at U.S. retailers surged in March by the most in a year and a half, suggesting the economy is firming up after a soft spell of growth earlier in the year. Retail sales soared 1.6% last month, the government said Thursday.

Digital scrapbook company Pinterest (PINS) and video conferencing company Zoom (ZM) each priced their initial public offerings Wednesday evening and are set to have shares start trading on the New York Stock Exchange and Nasdaq, respectively, Thursday morning.