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NEW YORK (CNNMoney)
The Dow Jones Industrial Average, S&P 500, and Nasdaq were all up slightly at the open. CNNMoney's new Tech 30 index was also higher.
The Labor Department said Thursday that the number of people filing jobless claims for the first time last week fell to 330,000, a drop of 15,000 compared to the previous week and better than what economists were predicting.
On Friday, the government will release its all-important December jobs report.
Hopes for another strong month of job growth were raised Wednesday when payroll processor ADP reported that private-sector businesses added 238,000 workers in the month.
Economists surveyed by CNNMoney predict the report will show 193,000 jobs were added in December, consistent with the solid hiring during the last four months of 2013. The unemployment rate is expected to remain at 7%.
On Wednesday, the Federal Reserve released minutes from its December meeting saying it would proceed cautiously in scaling back its support of the economy.
The Fed has maintained that it will let economic data dictate the pace of its slowdown in bond purchases, so investors are trying to read the tea leaves in any economic reports.
Related: Fear & Greed Index still in Greed mode
On the corporate front, Macy's (M, Fortune 500) shares surged after the department store operator revealed cost-cutting plans late Wednesday that included laying off of 2,500 workers and closing five stores. The retailer maintained its financial forecasts.
Bed Bath & Beyond (BBBY, Fortune 500) tumbled 11% after the retailer reported quarterly earnings that missed estimates.
Family Dollar (FDO, Fortune 500) shares plunged after the budget retailer missed estimates on sales and profit, reported a drop in same-store sales, and lowered its guidance for the year.
Shares rose for Costco (COST, Fortune 500) after it reported an increase in same-store sales.
Twitter (TWTR), the second-worst performer in CNNMoney's Tech 30 index, rose despite a bearish analyst report from Cowen & Co. Twitter's stock has fallen recently due to concerns about its valuation.
Aluminum producer Alcoa (AA, Fortune 500) was up slightly after reaching a $384 agreement with the Securities and Exchange Commission relating to allegations that it bribed officials in Bahrain in its business dealings there. The company will report fourth quarter results after the bell.
Related: Investors bet big on big banks
European Markets were mixed in afternoon trading, while most major Asian markets posted losses Thursday. 
First Published: January 9, 2014: 9:48 AM ET
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