The S&P 500 rose 0.3 percent in early trading after falling slightly on Wednesday. The Nasdaq composite was up 0.3 percent.
The Labor Department reported that initial claims for state unemployment benefits declined slightly last week to 385,000, a decrease of 14,000 from the previous week.
Markets in Europe were slightly higher, with the Stoxx Europe 600 up 0.3 percent. The Bank of England projected on Thursday that inflation in Britain will rise to 4 percent in the last quarter of the year, a level that is double the central bank’s target.
Oil prices rose on Thursday, with West Texas Intermediate, the U.S. crude benchmark, up 0.5 percent to $68.52 a barrel.
Robinhood fell more than 11 percent on Thursday after the company said that early investors could sell up to 97.9 million shares over time. On Wednesday, shares for the stock trading app rose 50 percent in their second day of sharp gains.
Uber fell slightly in early trading Thursday, a day after it published its company results. It earned a profit of $1.1 billion in the last quarter, but after adjusting for a one-time gain, its losses were $509 million.
Moderna rose as much as 5 percent after reporting on Thursday that the protection offered by its Covid vaccine does not wane in the first six months after the second dose. The company also reported better-than-expected revenue of $4.4 billion for the second quarter.
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