US stocks open higher on jobless claims

NEW YORK - US stocks opened higher Thursday, buoyed by positive news from the European Central Bank's policy meeting and the US jobs data.

The US weekly jobless claims rose a modest 4,000 to 371,000 in the week ended January 5, up from the previous week's revised-down figure of 367,000, and the four-week moving average, a better measure of labor market trends, increased 6,750 to 365,750, according to data released by the US Labor Department.

The latest claims figure was slightly higher than the previous forecast of a drop to 365,000 but was still considered stable after severe fluctuations due to Hurricane Sandy and holiday factors.

In Europe, the European Central Bank (ECB) left key rates unchanged at its monetary policy meeting Thursday, a move widely expected by the market. According to the central bank, the key lending rate remained at 0.75 percent, while its deposit rate stayed at zero.

ECB President Mario Draghi said at a news conference after the meeting that although inflation remained above the ECB's target, annual inflation should fall below 2 percent later in 2013 and the central bank saw inflationary pressure as contained.

Draghi also expected a "gradual recovery" of the eurozone economy later in the year.

Separately, upbeat Chinese trade data also lifted investors' sentiment. According to customs data, China's export rose 7.9 percent in 2012 year-on-year, while imports climbed 4.3 percent from the previous year.

Meanwhile, China's foreign trade surplus widened to 231.1 billion US dollars in 2012, up 48.1 percent from 2011.

The Dow Jones Industrial Average gained 42.92, or 0.32 percent, to 13,433.43. The S&P 500 Index added 6.63, or 0.45 percent, to 1,467.65. The Nasdaq Composite Index was up 18.95, or 0.61 percent, to 3,124.76.