NEW YORK: Wall Street stocks edged higher early Thursday as markets eyed a possible S&P 500 record in another potential landmark of a late-year rally.
Equities have trended higher since late October as the market has embraced moderating inflation and a strong labor market in the belief the US economy can avoid recession.
Data Thursday from the Department of Labor showed a slight increase in unemployment claims. However, the level remains low by historic standards.
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About 15 minutes into trading, the Dow Jones Industrial Average was up 0.1 percent at 37,698.02. The index closed at a record on Wednesday.
The broad-based S&P 500 rose 0.2 percent to 4,790.26 in early trading, about six points short of its all-time closing peak, while the tech-rich Nasdaq Composite index also gained 0.2 percent to 15,136.08.
Among individual companies, Apple advanced 0.6 percent after a federal court on Wednesday suspended a ban on the US sale of its latest watch models.
A ban on sales of the watch had briefly gone into effect Tuesday after US President Joe Biden’s administration opted not to veto a ruling on the device’s patent.
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