NEW YORK (AP) — A pair of better economic reports helped nudge the U.S. stock market up in early trading Thursday, even as global markets headed lower.
The Standard & Poor's 500 index was up four points, or 0.3 percent, to 1,617 after the first hour of trading. The index is coming off three days of losses.
The number of Americans seeking unemployment benefits fell to 334,000, below what economists had expected. Jim O'Sullivan, chief U.S. economist at High Frequency Economics, wrote in a note to clients that the government's weekly numbers, while volatile, "continue to signal an improving labor market."
The government also reported that U.S. retail sales increased 0.6 percent in May from April. That's up from a 0.1 percent gain in April and the fastest pace since February.
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