US stocks muddled in early trading as gold, silver surge

FILE - This Thursday, Oct. 2, 2014, file photo, shows the facade of the New York Stock Exchange. U.S. stocks moved little in early trading Thursday, March 17, 2016, as investors weighed a report on unemployment benefits and corporate news. (AP Photo/Richard Drew, File) FILE - This Thursday, Oct. 2, 2014, file photo, shows the facade of the New York Stock Exchange. U.S. stocks moved little in early trading Thursday, March 17, 2016, as investors weighed a report on unemployment benefits and corporate news. (AP Photo/Richard Drew, File)

By Associated Press March 17, 2016 3 min read

NEW YORK (AP) – U.S. stocks moved little in Thursday morning trading. Drug company stocks continued to slump, pulling health care companies lower. Energy and mining company stocks rose as the price of oil, gold and silver climbed.

KEEPING SCORE: The Dow Jones industrial average rose 27 points, or 0.2 percent, to 17,352 as of 10:05 a.m. Eastern time. The Standard & Poor’s 500 index lost two points, or 0.1 percent, to 2,025. The Nasdaq composite fell 16 points, or 0.3 percent, to 4,747.

UNEMPLOYMENT BENEFITS RISE: The Labor Department reported that applications for unemployment benefits rose slightly last week, but they remain at levels consistent with a healthy job market.

SHINY: Metals prices surged. Gold jumped $36.60, or 3 percent, to $1,266.40 an ounce and silver added 64 cents, or 4.2 percent, to $15.86 an ounce.

BURNED: Williams-Sonoma lost $4.23, or 7.1 percent, to $55.23 after the seller of cookware and home furnishings disclosed disappointing fourth-quarter results and gave a disappointing outlook for 2016.