NEW YORK, March 29 (Xinhua) -- U.S. stocks opened higher on Thursday as investors digested a batch of economic reports.
In the week ending March 24, the advance figure for seasonally adjusted initial claims for state unemployment benefits was 215,000, a decrease of 12,000 from the previous week's revised level, the U.S. Labor Department announced Thursday. This is the lowest level for initial claims since Jan. 27, 1973 when it was 214,000.
The four-week moving average was 224,500, a decrease of 500 from the previous week's revised average.
Meanwhile, U.S. personal income increased 67.3 billion U.S. dollars, or 0.4 percent, in February, while personal consumption expenditures increased 27.7 billion dollars, or 0.2 percent, the Commerce Department said Thursday. Both figures are on par with market consensus.
U.S. stock markets will be closed on Friday due to the Good Friday holiday.
Shortly after the opening bell, the Dow Jones Industrial Average rose 154.49 points, or 0.65 percent, to 24,002.91. The S&P 500 increased 14.71 points, or 0.56 percent, to 2,619.71. The Nasdaq Composite Index was up 42.19 points, or 0.61 percent, to 6,991.42.
U.S. stocks ended lower on Wednesday after volatile trading, as Wall Street digested the country's economic growth data for the fourth quarter of 2017.
