NEW YORK: Wall Street stocks rose early Thursday following the release of mixed economic data, extending a two-day rally as markets look ahead of the heart of earnings season.

Wholesale prices for US goods and services eased somewhat in December, but still jumped 9.7 percent for the year, the latest indication of pressure on prices.

US producer inflation showed signs of easing in December

New claims for unemployment benefits rose last week, in a potential indication of the drag from the latest Covid-19 surge.

About 15 minutes into trading, the Dow Jones Industrial Average was up 0.3 percent at 36,394.58.

The broad-based S&P 500 advanced 0.2 percent to 4,737.27, while the tech-rich Nasdaq Composite Index climbed 0.3 percent to 15,234.56.

Among individual companies, Delta Air Lines rose 1.4 percent as it reported a fourth-quarter loss but signaled it expects a strong spring bounceback in travel if infections from the Omicron variant decrease.

Large banks including JPMorgan Chase are set to report results on Friday.

Markets are also awaiting congressional testimony from Lael Brainard, who has been nominated to the Federal Reserve's vice chair post. Brainard said in prepared remarks that countering inflation is the Fed's "most important task."