Stocks Rose in Early Trading after Jobless Claims

U.S. stocks opened higher on Thursday, as investors digested a new round of jobless claims that were higher than expected. The Dow Jones Industrial Average lately rose 138.86 points, or 0.49%, to 28,442.32. The S&P 500 gained 23.18 points, or 0.69%, to 3,442.63. The Nasdaq Composite rose 67.10 points, or 0.59%, to 11,431.70.

Oil futures rose Thursday, lifted as strikes in Norway continue to weigh on production in the North Sea and Hurricane Delta forces the shut-in of crude and natural-gas production in the Gulf of Mexico. West Texas Intermediate crude for November delivery rose 74 cents, or 1.9%, to $40.69 a barrel. December Brent crude was up 87 cents, or 2.1%, at $42.87 a barrel on ICE Futures Europe.

The number of Americans who applied for jobless benefits fell slightly in early October to a fresh pandemic low. Initial jobless claims filed through state programs slid to 840,000 in the week ended Oct. 3 from a revised 849,000 in the prior week, the Labor Department said Thursday.