NEW YORK (CNNMoney) -- U.S. stocks edged higher at the open Thursday, as investors ventured back into the market a day after all three major indexes plunged more than 2%.
The Dow Jones industrial average and the S&P 500 were both up about 0.1%. The Nasdaq added nearly 0.3%.
Financial stocks, which led the post-election decline, were poised for a bounce, with shares of Bank of America (BAC, Fortune 500) and JPMorgan Chase (JPM, Fortune 500) up slightly in early trading.
Apple (AAPL, Fortune 500) shares were also logging modest gains, a day after tumbling into bear market territory -- down 20% from their all-time-high of $705 hit in mid-September.
Following President Obama's re-election Tuesday night, attention has shifted to how lawmakers will address the looming fiscal cliff that threatens to throw the country back into a recession if left untouched.
Stocks could regain some ground early Thursday, but investors are still skittish, said Peter Cardillo, market strategist at Rockwell Global Capital.
"The market needs to repair the technical and psychological damage sustained yesterday," he said. While he expects Obama and Congress to hammer out a solution to the fiscal cliff before the year-end deadline, "it's going to be touch and go for the market in the sort run."
Investors also digested the weekly report on initial jobless claims and a monthly reading on the trade balance as U.S. stocks look to bounce back from their worst day in months.
The government said 355,000 Americans filed for first-time jobless claims in latest week, better than the expectations for 377,000.
The trade deficit for September narrowed to $41.5 billion. Analysts were expecting the gap to widen to $45.4 billion.
Thursday's data "bodes well for an acceleration of economic activity," said Cardillo.
Related: Please, the stock drop is all about Obama - Opinion
On the corporate front, Wendy's (WEN) reported weaker-than-expected earnings and sales, sending shares of the fast food chain lower.
Dean Foods (DF, Fortune 500) shares spiked after the company posted a strong profit and said its CFO Shaun Mara is stepping down. Mara will be replaced by Chris Bellairs, who is currently CFO of the company's Fresh Dairy Direct division.
Shares of Monster Beverage (MNST) tumbled in early trading. The energy drink maker reported quarterly earnings and sales that fell short of expectations after the closing bell, sending shares down 12% in after-hours trading Wednesday.
Quarterly results from Disney (DIS, Fortune 500) and Groupon (GRPN) are due after the bell.
Fear & Greed Index
World Markets: While Europe's debt crisis drags on, investors can breathe a small sigh of relief after the Greek parliament approved a new round of spending cuts that are required for the country to receive the next installment of its international bailout.
Despite rising unemployment and declining business confidence in the euro area, the European Central Bank held its main interest rate steady at 0.75%.
The Bank of England left its interest rate unchanged and kept its asset purchase program at £375 billion.
European stocks were higher in afternoon trading. Britain's FTSE 100 and the DAX in Germany both added about 0.1%, while France's CAC 40 edged up 0.5%.
Asian markets closed sharply lower Thursday, playing catch-up with the previous day's retreat in European and U.S. markets. The Shanghai Composite tumbled 1.6%, the Hang Seng in Hong Kong sank 2.4%, and Japan's Nikkei dropped 1.5%.
Currencies and commodities: The dollar gained ground against the euro and the British pound but dipped versus the Japanese yen.
Oil for December delivery rose 38 cents to $84.79 a barrel.
Gold futures for December delivery edged up 50 cents to $1,714.50 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury fell, with the yield rising to 1.68% from 1.66% on Wednesday. 
First Published: November 8, 2012: 9:43 AM ET
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