By Kate Gibson, MarketWatch
NEW YORK (MarketWatch) -- U.S. stocks opened mildly higher on
Thursday, with the Dow industrials bouncing back after their
largest hit in four weeks.
Reports had the U.S. economy growing less than expected last
quarter and jobless claims rising more than estimated last
week.
"Today's report isn't likely to move the needle, as it contained
no real surprises," Jim Baird, chief investment officer for Plante
Moran Financial Advisors, noted in emailed commentary on the GDP
number.
"It's the most recent chapter in the story of an economy that
has moved forward in fits and starts over the past several years,"
Baird added.
Separately, the Labor Department reported its count of Americans
who filed for first-time jobless benefits rose by 10,000 last week
to 354,000.
A volatile Japanese market remained in the headlines. The
Japanese yen (USDJPY) fell against the U.S. dollar (DXY) and Japan
equity index futures bounced higher after Reuters reported a
proposed change in Japan's public pension fund's strategy would
likely bolster equity markets while denting the nation's currency.
U.S. stock index futures also gained after that report.
The Dow Jones Industrial Average (DJI) rose 54.98 points to
15,357.78.
On the Dow, Alcoa Inc. (AA) fell after Moody's Investors Service
reduced its rating on the aluminum manufacturer's debt to one notch
below investment grade.
The S&P 500 index (SPX) added 6.91 points to 1,655.27.
The Nasdaq Composite (RIXF) climbed 16.89 points to
3,484.40.
Advancers outran decliners nearly 2-to-1 on the New York Stock
Exchange, where 70 million shares traded as of 9:45 a.m.
Eastern.
Composite volume neared 303 million.
At 10 a.m. Eastern, the National Association of Realtors is
scheduled to release figures for pending-home sales in April.
Noteworthy movers on Thursday included Clearwire Corp. (CLWR) ,
up 19%, after Dish Network Corp. (DISH) upped its offer for the
company, upping the ante in a bidding competition with Sprint
Nextel Corp. (US-S)
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