Stock market opens higher, set to snap 2-session drop as oil-tanker attacks jolt energy sector
U.S. stock benchmarks on Thursday opened firmly higher, aiming to snap a two-session skid. Investors were focusing on surging oil prices which were rallying after two oil tankers were damaged in suspected attacks off the coast of Iran. The Dow Jones Industrial Average gained 82 points, or 0.3%, at 26,088, the S&P 500 index added 8 points, or 0.3%, at 2,888, with the energy sector jumping 1.1%, on the back of the alleged oil-tanker attack off the coast of Oman, which also caused crude-oil prices to surge. Meanwhile, the Nasdaq Composite Index climbed 0.4% at 7,824. In economic data, the number of Americans applying for jobless benefits in the week ended June 8 rose to 222,000 from 219,000 the week earlier. Economists surveyed by MarketWatch forecast 218,000. In corporate news, shares of Beyond Meat Inc. were in focus after Tyson Foods Inc. rolled out its answer to the meat-substitute trend. Meanwhile, online marketplace Fiverr International Ltd was set to debut as a public company later Thursday.
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