Forexpros – U.S. stocks opened moderately higher on Thursday, after the release of strong U.S. economic data, but gains were limited as renewed concerns over the outlook for growth in the euro zone weighed on market sentiment.

During early U.S. trade, the Dow Jones Industrial Average edged up 0.07%, the S&P 500 index added 0.06%, while the Nasdaq Composite index rose 0.22%.

Official data showed earlier that the U.S. trade deficit narrowed more-than-expected in June, dropping to USD42.9 billion from a deficit of USD48.0 billion the previous month.

Analysts had expected the trade deficit to narrow to USD47.4 billion in June.

Separately, the Department of Labor said the number of people who filed for unemployment assistance in the U.S. declined to 361,000 last week, from an upwardly revised 367,000 in the previous week, against expectations for an increase to 370,000.

Meanwhile, sentiment remained under pressure after the European Central Bank said in its monthly bulletin that the economic outlook for the euro zone faced a number of downside risks, with financial market tensions and their potential impact on growth posing the key threats.

Shares in Rupert Murdoch’s News Corp dropped 0.67% as the company announced a quarterly loss after the closing bell on Wednesday, due to USD2.85 billion of non-cash restructuring and impairment charges that overshadowed growth at its cable networks.

Also on the downside, aircraft giant Boeing declined 0.34%, after damage to a spinning shaft inside a General Electric jet engine was reportedly uncovered by U.S. investigators probing a malfunction during a test run of a Boeing Co. 787 Dreamliner.

First-flight preparations were under way on a 787 due for delivery to Air India when the incident occurred July 28 near Boeing’s Charleston, South Carolina, factory.

Meanwhile, financial stocks were mixed. Shares in JP Morgan tumbled 1.35% and Citigroup dropped 0.80%, while Bank of America and Goldman Sachs added 0.26% and 0.24% respectively.

JP Morgan revised its first-quarter results to show a lower profit, after deciding that the value of certain derivatives held by its main investment arm was overstated.

In company news, Best Buy added 0.15%, amid reports several private equity firms that have been approached to join in a buyout of the U.S. retailer are sitting on the fence, citing the lack of a tangible plan by the company’s founder Richard Schulze.

Research in Motion also climbed 0.65%, after a U.S. judge ruled that the company had not infringed on Mformation Technologies Inc’s patent and overturned an award of USD147.2 million that a jury said the Canadian firm should pay.

Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 inched down 0.05%, France’s CAC 40 rose 0.20%, Germany’s DAX fell 0.22%, while Britain’s FTSE added 0.15%.

During the Asian trading session, Hong Kong’s Hang Seng Index jumped 1.02%, while Japan’s Nikkei 225 Index climbed 1.1%.

Also Thursday, data showing that China’s annual consumer inflation fell to a 30-month low in July added to speculation that the country’s central bank may implement further monetary easing.

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