U.S. stocks open higher ahead of jobs data

U.S. stocks opened mildly higher on Thursday, as investors awaited key jobs report due Friday and digested the possibility of a December rate hike.

On the economic front, in the week ending October 31, the advance figure for seasonally adjusted initial claims was 276,000, an increase of 16,000 from the previous week' s unrevised level and above market expectations, the U.S. Labor Department said Thursday.

Meanwhile, traders will mainly look to non-farm payrolls this week for hints on the timing of an interest rate hike from the U.S. Federal Reserve.

Fed Chair Janet Yellen reiterated Wednesday that the central bank may start raising short-term interest rates at its December policy meeting as the U.S. economy is "performing well."

"If the incoming information supports that expectation, then our statement indicates that December would be a live possibility," Yellen said.

New York Fed President William Dudley, separately said Wednesday that he would "completely agree" with Yellen on a December hike.

Overseas, Chinese shares continued to rise on Thursday, sending the benchmark Shanghai Composite into a bull market, according to the Wall Street Journal.

Shortly after the opening bell, the Dow Jones Industrial Average gained 17.43 points, or 0.10 percent, to 17,885.01. The S&P 500 ticked up 0.98 points, or 0.05 percent, to 2,103.29. The Nasdaq Composite Index inched up 1.97 points, or 0.04 percent, to 5,144.45.

U.S. stocks closed modestly lower after wavering in a tight range Wednesday, as investors assessed Yellen's comments about rate hikes. Endite