MARKET SNAPSHOT: U.S. Stocks Open Higher; Facebook Jumps On Results

By Anora Mahmudova and Barbara Kollmeyer, MarketWatch

NEW YORK (MarketWatch) -- U.S. stocks opened mostly higher on Thursday with the S&P 500 reaching record territory on the back of upbeat earnings.

Ahead of the opening bell, weekly jobless claims came in far better than expected, as the number of people claiming benefits fell to the lowest level since February 2006.

Strong data out of China also underpinned gains across global markets. Investors are waiting for housing data that is expected to show a potential drop in new-home sales.

The S&P 500 (SPX) opened 2.6 points, or 0.1%, higher at 1,989.59, setting fresh intraday record. The Dow Jones Industrial Average (DJI) added 3 points to 17,092.54.

The Nasdaq Composite (RIXF) began the day up 12 points, or 0.3%, at 4,485.11.

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Investors processed a deluge of corporate earnings ahead of the bell.

Ford(F) shares rose 1.8% after the car maker beat earnings expectations. General Motors Co. (GM.XX) profit sank 80% as the auto maker was hit by recalls. Adjusted earnings matched analyst expectations. Shares were 2% lower in premarket.

Among the decliners, Shares of TripAdvisor Inc. (TRIP) sank 11% and Angie's List Inc. (ANGI) tumbled 21% after those companies separately reported late Wednesday.

Among the early reporters Caterpillar Inc. (CAT) shares dropped 2.8% after the maker of manufacturing equipment said sales fell short of expectations in the second quarter, but the company raised its earnings outlook again.

Shares of Facebook(FB) jumped more than 7.7% action after profit and sales beat expectations.

Qualcomm Inc.(QCOM) was under pressure after the wireless-tech company noted some worries about licensees in China, even as it lifted its full-year adjusted earnings outlook. Shares fell more than 5% in premarket. For more on Thursday's notable movers, read our Mover & Shakers column.

The biggest piece of data for Thursday could be new-home sales, and economists polled by MarketWatch are expecting the annualized sales pace of new single-family homes dropped to 475,000 in June, from a big 504,000-jump in May. The data is due at 10 a.m. Eastern Time.

The number of unemployed workers applying for jobless benefits tumbled in the most recent weekly data to the lowest level in more than eight years, signaling that employers are letting go of very few workers.

Outside of a loss for the Nikkei 225 index , Asian stocks rose across the board Thursday with a 1.2% gain for the China Shanghai Composite , after a preliminary reading of Chinese manufacturing data from HSBC hit an 18-month high. European stocks gained across the board amid a big earnings day there.

Crude-oil (CLU4) edged lower along with gold prices (GCQ4), while the dollar (DXY) steadied.

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