US STOCKS-Wall St to open higher on claims data, oil advance
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By Chuck Mikolajczak
NEW YORK, Feb 5 (Reuters) - U.S. stocks were set for a higher open on Thursday, putting equities on track to rebound from a late selloff in the prior session, after an upbeat report on the labor market and oil prices rose.
Weekly jobless claims rose to 278,000 last week, short of expectations calling for 290,000 claims. The report comes on the heels of a private payrolls report that fell short of expectations on Wednesday and ahead of the monthly employment report on Friday.
"Employment continue to improve at a fairly moderate pace, which feels breakneck compared to the past, which means people are getting jobs and that is a big positive for the economy," said David Heidel, regional investment strategist at U.S. Bank Wealth Management in Minneapolis, Minnesota.
"The problem is every time we get confirmation that the jobs picture is improving it also sparks worries the Federal Reserve will act sooner than later to raise rates and continues this schizophrenic up and down forces on risk assets like equity prices. Continuación...