Stocks Open Higher Adding to Gains and Sets to Hit New Highs

Stocks are managing to hold and add on to record gains at the opening bell Thursday. A big drop in the number of Americans filing new claims for unemployment benefits last week. The Labor Department said initial claims for state jobless benefits dropped to 280,000, less than expected. A separate government report showed Housing Starts tumbled in August. The Commerce Department reported groundbreaking of new homes fell 14.4 percent last month. Rite Aid (RAD) is sharply lower in early trading. The drug store chain beat quarterly earnings estimates but cut its full-year outlook for this year. Target (TGT) says it will hire 17,000 seasonal workers for this holiday season. That's about the same number as last year.