NEW YORK — Stocks are edging higher after the government reported a decline in the number of people seeking unemployment benefits and as JPMorgan Chase announced strong earnings.

JPMorgan Chase & Co. rose 4 percent after the bank reported that higher investment banking fees raised its net income beyond analyst expectations.

The Labor Department reported applications for unemployment benefits fell to a three-month low last week, a sign that companies are laying off fewer workers. At 405,000, the figure is still above the 375,000 that signals healthy job growth.

View Comments

The Standard & Poor's 500 index is up 3 points, or 0.2 percent, at 1,320 in early trading Thursday. The Dow Jones industrial average is up 8, or 0.1 percent, at 12,500. The Nasdaq composite is up 6, or 0.2 percent, at 2,802.

Looking for comments?
Find comments in their new home! Click the buttons at the top or within the article to view them — or use the button below for quick access.