U.S. stocks inched higher as jobless claims fell from the week before and the Federal Reserve tweaked its strategy to account for long-term low interest rates.

U.S. equity markets inched higher Thursday as new unemployment claims declined from the week before and Federal Reserve Chairman Jerome Powell outlined a policy shift intended to compensate for long periods of low interest rates. The Dow Jones Industrial Average rose 114 points, or 0.4%, in the opening minutes of trading while the S&P 500 and the Nasdaq Composite climbed 0.21% and 0.18%, respectively.

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