US stocks move higher during early trade, volatile oil prices capping gains

Major US equity indices moved higher during opening hour of trade on Thursday, shrugging off yet another disappointment from the US economic data. 

Data released from the US showed initial jobless claims rose by 10K to 244K for the week ended April 14. Separately, the Philly Fed manufacturing index fell more-than-expected in April, pointing to slowing growth in the manufacturing sector after a post-election surge.

Meanwhile, volatile oil prices, with WTI crude oil reversing tepid recovery move and adding on previous session's sharp fall, weighed on energy stocks and seems to have put a lid on the up-move.

Moreover, rising geopolitical tensions, with the US looking for ways to pressurize N. Korea over its nuclear program, continues to weigh on investors' sentiment and might collaborate towards capping any near-term sharp appreciating move.

At the time of writing, the Dow Jones Industrial Average advanced over 50-points to 20,457, while broader S&P 500 Index gained 6-points and rose to 2,344. Meanwhile, tech-heavy Nasdaq Composite Index continued with its outperformance and added 23-points to 5,885.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.