Stocks Opened Higher after Jobless Claims

U.S. stocks opened higher on Thursday, as investors digested the latest figures on jobless claims. The Dow Jones Industrial Average lately added 177.08 points, or 0.63%, to 28,117.55. The S&P 500 gained 20.10 points, or 0.59%, to 3,419.06. The Nasdaq Composite jumped 121.24 points, or 1.09%, to 11,262.80.

Oil prices headed lower on Thursday morning after a weekly inventory report showed that supplies in the U.S. were climbing, further raising fears that demand for oil may outstrip rising stockpiles. West Texas Intermediate crude for October delivery fell 54 cents, or 1.4%, at $37.51 a barrel, while November Brent crude rose lost 43 cents, or 1.1%, to reach $40.36 a barrel.

Initial jobless claims filed traditionally through state employment offices were unchanged at a seasonally adjusted 884,000 in the week of Aug. 30 to Sept. 5 , the Labor Department said Thursday.

U.S. producer prices rose a bit more than expected in August as the cost of services increased solidly, while underlying producer inflation continued to firm. The producer price index for final demand rose 0.3% last month after surging 0.6% in July, the Labor Department said on Thursday.