Stocks opened slightly lower Thursday as investors mulled details of President Trump's tax proposal.
[ibd-display-video id=2323629 width=50 float=left autostart=true] The Dow Jones industrial average and Nasdaq fell 0.1% while the S&P 500 was a fraction lower. This followed a session Wednesday that saw the Nasdaq composite jump 1.1% in higher volume.
In economic news, weekly jobless claims came in mostly in line with expectations at 272,000, up from 259,000 the prior week. The final revision to second-quarter GDP came in at 3.1%, also in line with expectations.
The 10-year Treasury yielded added 3 basis points early Thursday to 2.34%, helping the cause of JPMorgan Chase ( JPM ) and Bank of America ( BAC ), which showed gains of 0.2% and 0.5%, respectively, at the open. BofA is trying to clear a base with a 25.45 buy point. JPMorgan is in the same boat with a 95.32 entry.
Benchmark crude oil futures for November added nearly 1% to $52.53 barrel.
Leaderboard name Thor Industries ( THO ) jumped nearly 3% at the open after reporting strong earnings late Wednesday. The RV maker reported adjusted earnings per share of $2.26, up 44% from the year-ago quarter. Sales rose 50% to just over $1.9 billion. Strong sales growth is a result of the company's acquisition of Jayco last year.
Elsewhere on the earnings front, BlackBerry ( BBRY ) gained 8% at the open after the mobile software company reported better-than-expected earnings and sales. The 10 level is a potential resistance area to watch.
In IPO news, Roku priced last night at 14, at the high end of a proposed range of 12-14. The TV streaming service, trading under the ticker ROKU, had not started trading.
The IPO comes after a successful debut Wednesday from China-based RYB Education ( RYB ). The provider of early childhood education services priced at 18.50 and closed at 25.90. Shares were up 0.4% early Thursday.
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