New York---US stocks rose early Thursday as data showed modestly higher inflation and fewer jobless claims while shares of technology giant Oracle tanked on disappointing earnings.
About 25 minutes into trade, the Dow Jones Industrial Average stood at 18,067.96, up 132.22 points (0.74 percent).
The broad-based S&P 500 rose 11.69 (0.56 percent) to 2,112.13, while the tech-rich Nasdaq Composite Index gained 40.52 (0.80 percent) to 5,105.40.
The gains followed a Wednesday Federal Reserve policy announcement and news conference widely seen as dovish on the plan to raise interest rates from near-zero levels.
Higher gasoline prices lifted the consumer price index by 0.4 percent in May, while US jobless claims dropped 12,000 to 267,000 in the week ending June 13, data showed.
Software and networking giant Oracle fell 8.2 percent as it reported net income for the quarter ending May 31 of 78 cents per share, nine cents below analyst expectations. The company said results were marred by the strong dollar.
BioMarin Pharmaceutical surged 10.4 percent after releasing positive clinical results of its Vosoritide medication for treating human dwarfism.
Drugstore chain Rite Aid fell 3.8 percent as it forecast full-year earnings of 14-22 cents per share, below the 26 cents projected by analysts.
Supermarket chain Kroger advanced 1.4 percent after reporting that net income for the first quarter rose 24 percent to $619 million behind a 5.7 percent gain in comparable store sales, excluding fuel.
Bond prices were mixed. The yield on the 10-year US Treasury held steady at 2.32 percent while the 30-year advanced to 3.12 percent from 3.09 percent. Bond prices and yields move inversely.
AFP
