U.S. stocks opened modestly higher on Thursday, with both the Dow and the S&P 500 at record levels despite data showing jobless claims rose more than expected in the latest week.
The Dow Jones industrial average was up 28.07 points, or 0.17 per cent, at 16,601.07. The Standard & Poor’s 500 Index was up 2.51 points, or 0.13 per cent, at 1,893.41. The Nasdaq Composite Index was up 4.04 points, or 0.09 per cent, at 4,280.50.
In Toronto, the TSX pulled back in early trading as gold and mining stocks weakened alongside a decision by the European Central Bank to keep its key policy rate unchanged.
The TSX gold sector was the biggest decliner as the bullion for June delivery was down $4.80 at $1,286 (U.S.) an ounce. May light crude oil was down 22 cents at $99.40 a barrel.
The ECB said that despite evidence the economy of the 18-country euro zone is weak and inflation is going down, interest rates will stay the same. The ECB’s key rate is already at a record-low 0.25 per cent.
The Canadian dollar was up 0.12 of a cent at 90.74 cents (U.S.).