U.S. stocks opened slightly higher Thursday as investors assessed a hotter-than-expected rise in inflation and a further decline in first-time jobless claims. The Dow Jones Industrial Average rose 245 points, or 0.6%, to 34,692, while the S&P 500 rose 0.5% to 4,241.20, trading above its record close from May 7. The Nasdaq Composite was up 0.4% at 13,970. Inflation data showed the cost of living surged again in May and drove the pace of inflation to a 13-year high of 5%. Meanwhile, initial applications for unemployment benefits fell by 9,000 to 376,000 in the week ended June 5, the lowest since March 2020.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Stocks open higher after inflation rise, fall in jobless claims
Latest posts by Market Watch (see all)