NEW YORK (AP) — Stocks are turning slightly higher in midday trading as investors weigh an unexpected jump in jobless claims against a strong manufacturing report.
The Labor Department said Thursday that the number of people filing for unemployment benefits rose 25,000 from the previous week, more than economists expected.
The Federal Reserve Bank of Philadelphia reported that its index of manufacturing in the mid-Atlantic region jumped from 19.3 in January to 35.9 in February. Any number above zero signals growth.
Barrick Gold Corp., Duke Energy Corp. and J.M. Smucker Co. all rose after reporting stronger results.
The Dow Jones industrial average is up 14 points, or 0.1 percent, to 12,301. The S&P 500 index is up 2, or 0.2 percent, to 1,338. The Nasdaq is up 5, or 0.1 percent, to 2,830.
