Stocks Opened Higher after Jobless Claims Data

U.S. stocks open higher on Thursday after data showed new weekly jobless claims fell more than expected last week. The Dow Jones Industrial Average lately rosed 97.76 points, or 0.33%, to 29,981.55. The S&P 500 was up 5.80 points, or 0.16%, to 3,674.81. The Nasdaq Composite gained 46.43 points, or 0.38%, to 12,395.79.

Oil futures drifted lower Thursday, ahead of a meeting of major producers that appeared to be headed toward an agreement that would allow production to rise modestly beginning early next month in a gradual relaxation of existing production curbs. West Texas Intermediate crude for January delivery fell 41 cents, or 0.9%, to $44.87 a barrel. February Brent crude was off 34 cents, or 0.7%, at $47.91 a barrel.

New weekly jobless claims fell for the first time in three weeks last week. New claims totaled 712,000 for the week ended Nov. 28, falling from an upwardly revised 787,000 during the prior week.