U.S. stocks traded higher on Thursday following lower-than-expected jobless claims data.
Continuing claims, which track the total number of unemployed workers collecting benefits, fell to 1.716 million, a decline from the prior week.
Midwest manufacturing activity also expanded quicker than anticipated after the Institute for Supply Management's Chicago Purchasing Managers’ index came in at a reading of 63.1 for December. A reading of 50 is the dividing line between an expanding and contracting manufacturing sector. In stocks, shares of Biogen fell 6% in premarket trading after Samsung denied a Korea Economic Daily report that it was in talks to buy the biotechnology giant.
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