US stocks open mildly higher after mixed economic data

Major US equity indices opened with minor gains on Thursday following a mixed bag of US economic data, including a report that showed a larger-than-expected decline in US monthly retail sales. Meanwhile, producer price index (PPI) for August came-in to show lack of inflationary pressure.

Ahead of the much awaited two-day FOMC meeting on September 20-21, disappointing data, especially a contraction in retail sales for the first time in five months, virtually takes September rate-hike possibilities off the table. 

At the time of writing, Dow Jones Industrial Average added 30 points to 18,065 while the S&P 500 index rose 4 points to 2,130. Nasdaq composite continues to outperform the broader markets and climbed 16 point to 5,190.

In other economic releases, weekly jobless claims ticked higher to 260,000 from previous week's 259,000 but the reading was better-than an expected rise to 265,000. Meanwhile, the Empire state manufacturing index remained in contraction territory for second consecutive month in September while Philly Fed manufacturing index rose for a second consecutive month and surpassed even the most optimistic estimates.