US stocks open lower on higher jobless claims

U.S. stocks opened lower Thursday after weekly jobless claims increased. According to the Labor Department, weekly jobless claims rebounded 46,000 to a seasonally adjusted 388,000. As for earning reports, banking giant Morgan Stanley posted its third quarter earnings, showing revenue from underwriting bonds more than doubled to 431 million dollars, beating analysts' expectations. Its income from continuing operations totaled 561 million dollars, or 0.28 dollar per share. Despite positive earning reports, investors were still concerned about the economy, especially the rising number of the unemployed. Shortly after the opening bell, the Dow Jones industrial average lost 19.21 points, or 0.14 percent, to 13,537.79. The Standard & Poor's 500 was down 2.87 points, or 0.20 percent, to 1,458.07. The Nasdaq Composite Index declined 7.95 points, or 0.26 percent, to 3,096.06.