U.S. stocks open mixed amid jobless claims, oil prices
Xinhua, December 1, 2016 Adjust font size:
U.S. stocks opened mixed on Thursday, the first trading day in December, as investors digested economic data and rising oil prices.
The Organization of the Petroleum Exporting Countries (OPEC) on Wednesday decided to cut its oil output by 1.2 million barrels per day, setting the ceiling of oil production at 32.5 million barrels per day.
The reduction is the cartel's first oil reduction since 2008 and is being coordinated with the non-OPEC country Russia, which promised to cut its production by 300,000 barrels per day.
U.S. oil rose 3.24 percent and Brent crude continued to spike over 8.5 percent in the early trading on Thursday following the news.
On the economic front, in the week ending Nov. 26, the advance figure for seasonally adjusted initial jobless claims was 268,000, an increase of 17,000 from the previously week's unrevised level, according to the U.S. Labor Department.
The four-week moving average was 251,500, an increase of 500 from the previous week's unrevised average of 251,000.
Shortly after the opening bell, the Dow Jones Industrial Average gained 44.96 points, or 0.24 percent, to 19,168.54. The S&P 500 rose 1.15 points, or 0.05 percent, to 2,199.96. The Nasdaq Composite Index was down 7.81 points, or 0.15 percent, to 5,315.87. Endi