Stocks open higher on Wall St; American reports steep loss

NEW YORK (AP) — Stocks are opening higher on Wall Street Thursday, recovering some of their day-earlier losses. The S&P 500 is up 0.5%, the Nasdaq is up 1% and the Dow Jones Industrial Average is up 0.4%. Investors shrugged off news that the number of Americans applying for unemployment benefits rose to the highest level in three months last week as the fast-spreading omicron variant disrupted the job market. American Airlines fell 1.9% after reporting a $931 million loss for the fourth quarter. Travelers Companies reported strong fourth-quarter results. Treasury yields fell.