Dow opens higher, tries for 6th gain in a row as stocks look to extend recent rise

The Dow Jones Industrial Average early Thursday traded higher for a sixth straight session as a reading of inflation and the labor market appeared to fuel some appetite for modest buying in stocks. The Dow was up 42 points, or 0.2%, at 24,605, the S&P 500 index rose 0.3% at 2,706. The Nasdaq Composite Index advanced 0.3% at 7,359. The Dow is on track to match the longest string of gains since a six-day rally ended Feb. 16, while the Nasdaq is aiming for its longest win streak since the seven-session period ended March 12. In economic reports, the consumer-price index rose 0.2% in April, while core CPI, which strips out food and energy, rose a smaller 0.1% last month, while the number of people who applied for U.S. unemployment benefits in early May stood at 211,000 for the second straight week, keeping initial jobless claims near a 49-year low. A rally in energy has been attributed to a recent bout of optimism in markets, with U.S. crude-oil futures touching the highest level since November 2014, above $71 a barrel, which has helped to propel energy stocks higher.