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US stocks rise ahead of job report

New York - US stocks rose modestly in early trade on Thursday as investors digested a series of economic data ahead of Friday's big jobs report for March.

About 30 minutes into trade the Dow Jones Industrial Average gained 17.54 points (0.11%) to 16 590.

The broad-based S&P 500 rose 1.63 (0.09%) to 1 892, while the tech-rich Nasdaq Composite Index tacked on 4.60 (0.11%) to 4 281.

Commerce Department data showed the US trade deficit for February jumped to $42.3bn from $39.3bn in January. Meanwhile, US jobless claims last week increased 16 000 to 326 000.

But markets were beginning to focus on Friday's jobs report, which is expected to show the US added 195 000 jobs last month.

"There is nothing at this time to suggest other than a reasonably quiet trading day," said Briefing.com "But you never know."

A report that Citigroup faces a criminal probe over a $400m fraud at its Mexico unit shaved 1.0% off the stock.

Juniper Networks, a software and data network company gained 1.4% after disclosing a plan to trim worldwide headcount by 6%.

Internet radio service Pandora reported that active listeners at the end of March were 75.3 million, an increase of 8% from the year-ago period. Shares rose 4.9%.

Liquidity Services, an online auction marketplace, fell 11.2% after a disappointing result in a Defense Logistics Agency procurement competition.

Bank of America said Liquidity lost an auction to a competitor for a contract tied to the supply vehicles and trailers.

Bond prices were mixed. The yield on the 10-year US Treasury held steady at 2.80% the same level as on Wednesday. The 30-year declined to 3.63% from 3.65%. Bond prices and yields move inversely.

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