U.S. stocks open higher, boosted by energy stocks

U.S. stocks opened higher on Thursday, with a rise in energy-related companies leading the market up in what was expected to be a light day of trading in a holiday-shortened week. The Dow Jones Industrial Average rose 54 points, or 0.2%, to 24,828. The S&P 500 added 4 points, or 0.1%, to 2,686. The Nasdaq Composite Index rose 13 points to 6,953, a rise of 0.2%. All three indexes are within one percentage point of record levels. Energy companies were supported by crude oil, which stabilized near 2 1/2-year highs. Among the most active names in early trading, Chesapeake Energy Corp. rose 1.8% while Cabot Oil & Gas Corp. rose 0.6%. Also driving trading was the latest economic data. Initial U.S. jobless claims were unchanged at 245,000 last week, a historically low level.

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.

…read more

From:: Stock Market News

Leave a Reply