Global Stocks: U.S. stock indices posted modest gains

U.S. stock indices posted modest gains on Thursday after three days of declines. Investors were cautious ahead of the Federal Reserve meeting scheduled for the next week.

The Dow Jones Industrial Average rose 82.45 points, or 0.5%, to 17,574.75. The S&P 500 climbed 4.61 points, or 0.2%, to 2,045.23 (eight out of its 10 sectors rose; utilities and materials sectors declined 1.7% and 0.8% respectively). The Nasdaq Composite gained 22.31 points, or 0.4%, to 5,045.17.

The U.S. Department of Labor reported that the number of initial unemployment claims rose by 13,000 to 282,000 on a seasonally adjusted basis in the week ending December 5. The reading was above forecast for 269,000 new claims, but still below a key 300,000 level. This is the highest reading since the beginning of July. Last week's data were not revised.

This morning in Asia Hong Kong Hang Seng fell 0.68%, or 147.13, to 21,557.48. China Shanghai Composite Index lost 0.95%, or 32.67, to 3.422.83. The Nikkei rose 0.89%, or 170.04, to 19,216.59.

Asian indices traded mixed. Chinese stocks fell as investors were cautious ahead of series of economic reports due on Saturday (industrial production, fixed asset investment and retail sales).

Stocks of Japanese exporters including Toyota, Honda and Canon advanced.