Wall Street opened flat Thursday, as investors awaited more information about the health of the nation's economy.
The U.S. Labor Department reported that initial claims for unemployment declined by 5,000 last week from the previous week. However, the decrease was a bit smaller than expected and the four-week moving average of initial claims, a less volatile indicator, rose, showing the U.S. job market remains strained.
Investors will read the Philadelphia Federal Reserve's report on regional manufacturing and the Conference Board's May index of leading indicators due at 10 a.m. EDT, expecting more information on the direction of the economy.
The Dow Jones rose 19.62 to 12049.41. Broader indexes also inched up. The Standard & Poor's 500 index climbed 2.71 to 1340.52;and the Nasdaq rose 2.03 to 2,431.74.
Source:Xinhua
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