Stocks mostly higher on retail sales, labor report

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Stocks are opening mostly higher on Wall Street following an encouraging report on the labor market and better sales from retail chains.

Traders also were optimistic about encouraging comments by European Central Bank President Mario Draghi on tools to tackle the region's debt crisis.

Shortly after the opening bell, the Dow Jones industrial average was up 40.66 points, or 0.30 percent, to 13,535.27. The Standard & Poor's 500 Index gained 3.54 points, or 0.24 percent, to 1,454.53. The Nasdaq jumped 5.45 points, or 0.17 percent, to 3,140.68.

The number of Americans seeking unemployment benefits rose to 367,000 last week, fewer than economists had been expecting.

The yield on the benchmark 10-year Treasury note rose to 1.64 percent from 1.62 percent late Wednesday.

Retailers including Costco and Limited Brands reported September sales that came in ahead of Wall Street's estimates.

Investors are looking ahead to minutes from the Federal Reserve's latest meeting, due out Thursday afternoon.

The Associated Press and Reuters contributed to this report.

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