U.S. Stocks Gain Steam as Brexit Faces Fresh Hurdles; Qualcomm Tops Estimates

U.S. stocks moved higher early Thursday as the UK's withdrawal from the European Union faces new hurdles. A high UK court ruled that Article 50, which begins the UK's withdrawal process from the European Union, can't be triggered without a Parliamentary vote. Most of Parliament was against Brexit. This sent the pound surging against the dollar. Plus, the Bank of England kept benchmark interest rates unchanged following its policy meeting, after cutting them over the summer amid concerns about Brexit. Weekly jobless claims rose to 265,000 last week, topping estimates of 255,000 and an increase from the 258,000 seen in the prior week. Qualcomm (QCOM) - Get Report shares rose after reporting adjusted earnings of $1.28 a share, beating estimates of $1.13 for its most recent quarter. Revenue rose year-over-year and topped Wall Street's forecasts. Last month, the company agreed to purchase NXP Semiconductors (NXPI) - Get Report for $39 billion. TheStreet's Scott Gamm reports from Wall Street.