Stocks Edged Higher amid Jobless Claims Report

U.S. stocks edged higher in the early trading on Thursday, after a report that showed jobless claims jumped unadjusted 4.4 million in mid-May. The Dow Jones Industrial Average lately rose 44.09 points, or 0.18%, to 24,619.99. The S&P 500 edged up 0.73 points, or 0.02%, to 2,972.34. The Nasdaq Composite was up 0.08 point, to 9,375.86.

Oil futures rose on Thursday, as a slowdown in supplies and hope for higher demand help recover some losses from a bruising stretch for crude-oil bulls. July West Texas Intermediate oil rose 73 cents, or 2.2%, at $34.22 a barrel. Brent crude for July delivery added 71 cents, or 2.2%, to reach $36.46 a barrel.

Total more than 4.4 million unemployed Americans applied for jobless benefits last week through the states or a temporary federal-relief program. First time filings for unemployment insurance totaled 2.44 million last week.