By Anora Mahmudova, MarketWatch
NEW YORK (MarketWatch) -- U.S. stocks opened higher as investors
welcomed a higher-than-expected drop in weekly jobless claim and
upbeat earnings from companies such as Walt Disney Company and L
Brands.
The S&P 500 (SPX) opened 9 points, or 0.5% higher at
1,760.50. The Dow Jones Industrial Average (DJI) added 80 points,
or 0.5% to 15,524 at the open. The Nasdaq Composite (RIXF) began
the day 28 points, or 0.7% higher at 4,039.35.
Follow out stock market life blog.
Helping the sentiment was the data on initial weekly jobless
claims. The number of people who applied for unemployment benefits
for the first time fell by 20,000 to 331,000 last week, better than
forecasts for 337,000. In other economic news, the U.S. trade
deficit widened more than expected, and productivity increased
slightly less than anticipated.
The data come a day after a disappointing report on
private-sector jobs growth from ADP and a day ahead of key
nonfarm-payroll figures.
Across the Atlantic, the ECB left key rates unchanged, and the
central bank's president, Mario Draghi, said at the news conference
that medium- and long-term inflation expectations remain
well-anchored, with no real deflation risk. Follow our live blog of
Draghi's news conference
The Bank of England, meanwhile, left policy unchanged and its
quantitative easing program steady.
Earnings results released after the market close on Wednesday
and before the opening bell today were mixed.
Twitter Inc. (TWTR)plunged after earnings disappointed investors
late Wednesday.
Shares of Green Mountain Coffee Roasters(GMCR) surged after the
company announced a 10-year deal late Wednesday with Coca-Cola (KO)
over an at-home cold-drink system.
Shares of GM (GM.XX) fell after fourth-quarter profit missed
expectations.
Costco Wholesale Corp. (COST) shares rose after the retailer
reported a rise in same-store sales.
Akamai Technologies Inc. (AKAM) shares soared after
fourth-quarter earnings increased 18% and revenue jumped in results
released late Wednesday.
Teradata Corp(TDC) shares jumped after quarterly results were
better than expected.
In other markets, Asian stocks had a mixed day, while the dollar
slipped. Gold and natural gas climbed ahead of supply data.
More stories from MarketWatch:
Jobless claims drop 20,000 to 331,000
Twitter user growth sparks investor jitters
Sochi's messy start, Twitter's pain and Salesforce.com's bull
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