Stocks edge up in early trade; Ford, Macy’s rise
NEW YORK (AP) — Stocks are slightly higher in the early going on Wall Street after the government reported encouraging news about the job market.
The number of Americans seeking unemployment benefits fell by 15,000 last week, more than economists were expecting and a sign that layoffs are decreasing. That’s a good signal ahead of the government’s monthly employment survey due out Friday.
The Dow Jones industrial average rose 28 points, or 0.2 percent, to 16,490 in early trading Thursday.
The Standard & Poor’s 500 index was up four points, or 0.2 percent, at 1,841. The Nasdaq composite was up 11 points, or 0.3 percent, at 4,176.
Macy’s jumped 7 percent after the company said it would cut 2,500 jobs as part of a reorganization. Ford rose 3 percent after announcing a dividend increase.