U.S. stocks moved higher in early trading Thursday, rebounding after a two-day slide. The government said that applications for unemployment aid fell sharply last week, a sign that the U.S. job market remains strong despite tepid economic growth this year. Oil prices eased after climbing the day before.
KEEPING SCORE: The Dow Jones industrial average rose 100 points, or 0.6 percent, to 17,798 as of 10:09 a.m. Eastern. The Standard & Poor’s 500 index added 10 points, or 0.5 percent, to 2,069. The Nasdaq composite gained 14 points, or 0.3 percent, to 4,894.
BACK TO WORK: The Labor Department said applications for unemployment benefits fell sharply last week to a seasonally adjusted 268,000. The decrease is a sign of a strong job market despite evidence of tepid economic growth in the opening months of 2015.
MIND THE GAP: The Commerce Department said that the nation’s trade deficit plummeted 16.9 percent to $35.4 billion in February. The trade gap fell as imports and exports sank, driven by a since-settled trade dispute and a global economic slowdown that has cut into oil prices and caused the dollar to rise in value.
EARNINGS AHEAD: Investors have been weighing mixed economic data this week in advance of the next round of corporate earnings, which begins next week. On Tuesday, they got a dash of encouraging data on consumer confidence, spending and home prices. But Wednesday’s slate clouded the economic picture. The government’s March payroll employment tally is due out Friday, when markets will be closed for the Good Friday holiday.