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Higher open as jobless claims drop

A greater than expected drop in first time applications for unemployment benefits lifted the markets to a higher open with the Dow adding 8 points to 22,669. Nasdaq gained 18 points to 6,552.


On the upside


Freeport-McMoRan (NYSE: FCX) will improve efficiency by digitally connecting its mining operations.


Norwegian Cruise Line (Nasdaq: NCLH) will join the S&P 500 before market open on Friday, October 13.


Constellation Brands (NYSE: STZ) reported higher second quarter earnings that beat expectations prompting the company to lift its full year earnings outlook.

On the downside


Navient (Nasdaq: NAVI) will pay approximately $155 million in cash to acquire Earnest.


Citron Research said that Shopify (NYSE: SHOP) was overvalued.

Morgan Stanley downgraded Celgene (Nasdaq: CELG) from an Equal Weight rating to an Underweight rating.


In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by more than 4 to 3 on Nasdaq. The broader S&P 500 rose 3 points to 2,540. Bitcoin soared $97 to $4,310.


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