U.S. stocks open higher on upbeat data

U.S. stocks opened higher Thursday as Wall Street digested a batch of generally positive economic reports.

U.S. new orders for manufactured durable goods in January increased 11.1 billion U.S. dollars or 4.9 percent to 237.5 billion dollars, well above market consensus, the U.S. Department of Commerce announced Thursday.

The increase, up following two consecutive monthly decreases, followed a 4.6 percent December decrease.

Meanwhile, in the week ending Feb. 20, the advance figure for seasonally adjusted initial claims increased 10,000 from the previous week's unrevised level to 272,000, roughly on par with market estimates, said the Labor Department Thursday.

The four-week moving average was 272,000, a decrease of 1,250 from the previous week's unrevised average of 273,250.

Oil prices, which narrowly fluctuated in the early trading Thursday, were also in focus. On Wednesday, oil prices pared early steep declines to close higher, as data showed U.S. gasoline demand rose 5.2 percent over the past four weeks compared with a year ago.

Shortly after the opening bell, the Dow Jones Industrial Average added 28.29 points, or 0.17 percent, to 16,513.28. The S&P 500 rose 3.99 points, or 0.21 percent, to 1,933.79. The Nasdaq Composite Index was up 12.28 points, or 0.27 percent, to 4,554.88.

On Wednesday, U.S. stocks reversed early sharp losses to end higher, as signs of stabilization in oil prices soothed anxious investors. Endi