US stocks open higher after three down sessions

NEW YORK: Wall Street stocks sought to shake off a bout of recent weakness, rising early Thursday after three down sessions pressured by inflation concerns.

New filings for unemployment aid declined for the third straight week in the United States, government data said, an indication of further progress in the labor market.

Federal Reserve minutes released Wednesday showed some officials believe the US economy may soon be healthy enough to taper asset purchases, one of the first signs of a shift in the central bank's easy money policies.

The minutes come as inflation worries have sparked talk of a sudden potential shift in Fed policy.

About 25 minutes into trading, the Dow Jones Industrial Average was up 0.2 percent at 33,969.60.

The broad-based S&P 500 fell 0.6 percent to 4,138.41, while the tech-rich Nasdaq Composite Index advanced 1.0 percent to 13,434.96.

Among individual companies, Ford jumped 3.8 percent after officially unveiling the all-electric version of its bestselling F-150 truck, an eco-friendly reinvention of the flagship American car brand.

US President Joe Biden gave the vehicle an endorsement Tuesday during a visit to a Ford facility in Michigan.

Morgan Stanley dipped 0.1 percent as it announced a series of executive promotions for potential successors to Chief Executive James Gorman. These include promoting Ted Pick and Andy Saperstein as co-presidents.