Market dips at open as jobless claims continue to climb

The Dow Jones Industrial Average lost 275 points as markets opened Thursday, following more bleak U.S. unemployment news. The S&P 500 dipped 0.6% in early trading.

The Labor Department reported 3.8 million new unemployment claims last week, bringing the six-week total to more than 30 million.

U.S. stock futures also were down Thursday morning amid the bad jobless news and reports declining consumer spending.

Oil prices are up, after falling earlier in the week. Investors are optimistic that economies are on the path to reopening. Brent crude oil is trading at $25 a barrel, and West Texas Intermediate futures climbed to  $17.43 a barrel. 

The Stoxx Europe 600 gained modestly on Thursday, as did key indexes in Asia.