US stocks open higher, S&P 500 hits new record

US stock rose on Thursday, following the release of upbeat economic data, which lifted S&P 500 to a new record high..

The US Department of Labor revealed that the number of initial unemployment claims was at 376K last week from 385K, while analysts forecast 370K.

The US consumer price index rose by 0.6% in May, the largest monthly increase in 13 years, higher than forecasts of 0.4%. 

The core reading (excluding food and fuel prices) rose by 0.7%, higher than forecasts of 0.5%. 

As for stocks, Dow Jones rose 0.5% or 156 points to 34,603 as of 14:19 GMT, Nasdaq rose 0.6% or 88 points to 14,000, and S&P 500 rose 0.5% or 21 points to 4,240.