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Stocks Moderately Higher … Solid Growth … Jobless Claims Up

Stocks are opening moderately higher on Wall Street, led by gains in banks and technology companies

In this Thursday, June 15, 2017, photo, a construction worker continues work on a condominium project in Coral Gables, Fla. On Friday, July 7, 2017, the Labor Department will release the U.S. jobs report for June. (AP Photo/Alan Diaz)

Stocks are opening moderately higher on Wall Street, led by gains in banks and technology companies. Solid gains for Goldman Sachs and Chevron sent the Dow Jones industrial average higher in early trading. The Dow gained 81 points, or 0.3 percent, to 24,806 as of 10:13 a.m. Eastern time. The Standard & Poor’s 500 index rose 5 points, or 0.2 percent, to 2,684. The Nasdaq composite rose 5 points, or 0.1 percent, to 6,966.

WASHINGTON (AP) — The U.S. economy grew at a solid 3.2 percent annual rate from July through September. That’s slightly slower than previously estimated but still enough to give the country the best back-to-back quarterly growth rates in three years. The Commerce Department revised the figure down from last month’s estimate of 3.3 percent. The change reflected a bit less spending by consumers.

WASHINGTON (AP) — The number of people seeking U.S. unemployment aid rose last week for the first time in five weeks, but remained at a low level that points to a healthy job market. The Labor Department says applications for unemployment aid increased 20,000 to a seasonally adjusted 245,000. The rise comes a week after applications fell to nearly a four-decade low.

ATLANTA (AP) — Home Depot is buying online retailer The Company Store, moving forward with aggressive plans to protect itself from competitors like Amazon.com. The Atlanta company says it would more closely link its stores with online services and home delivery. Home Depot has escaped the decimation other retailers have been subjected to with Amazon disrupting sales everywhere, but CEO Craig Menear has vowed to meet customers where they are.

DETROIT (AP) — Ford and Mazda are recalling more than 380,000 older small pickup trucks for a second time to replace Takata air bag inflators that can explode and hurl shrapnel. The recalls cover driver and passenger inflators in certain 2004 to 2006 Ford Ranger and Mazda B-Series trucks made by Ford. The trucks were recalled in 2015 and 2016 to replace inflators with newer ones as a temporary fix.

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