U.S. Stocks Open Modestly Higher; S&P 500, Nasdaq Hit Records

By Ryan VlastelicaMarketsMarketWatch Pulse

U.S. stocks traded with a slight upward bias in early trading on Thursday, as positive corporate earnings and data boosted positive sentiment. The Dow Jones Industrial Average rose 9 points to 21,649, a rise of less than 0.1%. The S&P 500 added 2.8 points to 2,477, a rise of 0.1%. The Nasdaq Composite Index gained 12 points, or 0.2%, to 6,397. Both the S&P and the Nasdaq hit intraday records in early trading. In the latest news on the labor market, weekly jobless claims plunged, highlighting a labor market that has conveyed consistent signs of health. On the earnings front, T-Mobile US Inc. rose 3% after strong second-quarter results, while Dow component Travelers Inc. fell 2.3% after posting a drop in profits.

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