Stocks open higher despite elevated jobless claims

U.S. stocks opened higher Thursday, attempting to extend Wednesday’s rally in the wake of a three-day sell-off that left the Nasdaq Composite in correction territory. The Dow Jones Industrial Average DJIA, -1.45% added 119 points, 0.4%, to open near 28,059, while the S&P 500 SPX, -1.76% gained 15 points or 0.5%, to open near 3,414. The Nasdaq COMP, -1.99% jumped 0.8% at the open, picking up 88 points to start trading near 11,230. The gains for stocks came even as the number of Americans filing for unemployment benefits was higher than expected in the most recent week, suggesting the economic rebound from the COVID-19 shutdowns may be losing steam. Shares of Tesla Inc. TSLA, +1.38% bounced higher at the open, rebounding after a string of losses after the carmaker was left out of the S&P 500 index.

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