U.S. Stocks Open Higher as the European Central Bank Holds on Rates

U.S. stocks opened higher Thursday as the European Central Bank left interest rates unchanged. However, the ECB said it would continue with its bond buying program through March of 2017 and is ready to implement additional stimulus measures if they believe they are economically necessary. Weekly jobless claims remain on trend, rising 9,000 to 269,000 and staying within the same range of the past 21 weeks. Crude oil prices rise ahead of the OPEC meeting in Vienna, where Reuters reports that Saudi Arabia may try to convince the other OPEC nations to cut production of oil. Sears Holdings (SHLD) is still struggling. Sales at both Sears and Kmart stores were down in the quarter. Federal Reserve Chair Janet Yellen begins testimony today before Congress and may give clues to the future of interest rates ahead of the Federal Reserve meeting next week.