U.S. stocks mixed to higher after jobless data; Dow Jones up 0.46%

U.S. stocks opened mixed to higher on Thursday, after official data showed that the number of people who filed for unemployment assistance in the U.S. fell more-than-expected last week. 

During early U.S. trade, the Dow Jones Industrial Average gained 0.46%, the S&P 500 index rose 0.33%, while the Nasdaq Composite index eased 0.09%. 

The Department of Labor said the number of individuals filing for initial jobless benefits last week fell by 24,000 to 334,000, compared to expectations for a drop of 13,000 to 345,000.

Meanwhile, investors were looking ahead to a second day of testimony on monetary policy by Federal Reserve Chairman Ben Bernanke later in the session.

In the first day of his semi-annual testimony to Congress on Wednesday Bernanke said the central bank could scale back its asset purchases by the end of the year if the economy continues to improve, but added that there was no “preset course.”

Bernanke said the economic recovery was continuing at a moderate pace but reiterated that monetary policy will remain accommodative for the foreseeable future. 

In earnings news, Morgan Stanley surged 4.03% after the U.S. lender topped quarterly expectations as revenue grew in all of its major businesses. Other U.S. banks were also trending higher, as shares in Citigroup climbed 0.85% and JP Morgan gained 0.70%, while Bank of America jumped 1.12%. 

On Wednesday, Bank of America posted a 70% jump in earnings, thanks to lower operating expenses. 

Elsewhere, Verizon edged past expectations by a penny a share, thanks to strong growth at its Verizon Wireless venture with Vodafone Group. Verizon shares plummeted 2.13% despite the news. 

In company news, the special Dell shareholder meeting to vote on Michael Dell and Silver Lake's USD24.4 billion buyout proposal was adjourned and rescheduled for July 24. Shares in the tech company were up 2.17% at the open of the U.S. trading session. 

Other stocks expected to be in focus included Google, Microsoft, Advanced Micro, Chipotle Mexican Grill and Capital One, scheduled to post results after the closing bell. 

Across the Atlantic, European stock markets were higher. The EURO STOXX 50 advanced 0.81%, France’s CAC 40 jumped 0.87%, Germany's DAX climbed 0.52%, while Britain's FTSE 100 rallied 0.95%. 

During the Asian trading session, Hong Kong's Hang Seng Index slipped 0.12%, while Japan’s Nikkei 225 Index jumped 1.32%. 

Later in the day, the U.S. was to release data on the Philly Fed manufacturing index.