Stocks edge higher after good news about jobs

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Associated Press

Posted on November 27, 2013 at 12:02 PM

Updated Wednesday, Nov 27 at 12:02 PM

NEW YORK (AP) — The stock market opened slightly higher after the U.S. reported a drop in applications for weekly unemployment benefits.

The Dow Jones industrial average edged up 18 points to 16,091 in early trading Wednesday. The Standard & Poor's 500 index rose two points to 1,805. The Nasdaq composite gained 10 points to 4,028.

There are no major earnings reports due before the market closes for the Thanksgiving holiday on Thursday, but a strong jobs report helped keep momentum going.

The number of Americans seeking unemployment benefits dropped 10,000 last week to a seasonally adjusted 316,000, according to the Labor Department.

Hewlett-Packard rose $2.01, or 8 percent, to $27.10. The world's second-largest maker of PCs forecast a strong profit for the current quarter late Tuesday.

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