Stocks edge up, despite higher unemployment claims

US stocks rise in early trading even after jobless claims rise; Royal Dutch Shell drops

Associated Press
Stocks surge; Hewlett-Packard leads Dow higher

View photo

In a Feb. 17, 2012 photo trader Anthony Satriale, right, works on …

NEW YORK (AP) -- U.S. stocks opened slightly higher despite a rise in weekly unemployment claims.

The Dow Jones industrial average is up 41 points to 12,849 minutes after the opening bell Thursday. That's a gain of 0.3 percent.

The Labor Department reported Thursday that applications for unemployment benefits jumped to 380,000 last week. The previous week's figures were also revised higher and the less-volatile four-week average rose to 368,500. Treasury prices jumped after the report, as traders shifted money into safer assets.

The S&P 500 is up 4 points, or 0.3 percent, to 1,373. The Nasdaq composite is up 9 points to 3,025, also a gain of 0.3 percent.

Royal Dutch Shell PLC sank 1.5 percent on news of an oil slick in the Gulf of Mexico near wells operated by Shell Oil.

View Comments (17)