First time applications for unemployment benefits dropped to its lowest level in nearly 42 years to lift the markets to a higher open with the Dow gaining 41 points to 16,966. Nasdaq climbed 30 points to 4,813.

On the upside

Five Prime Therapeutics (Nasdaq: FPRX) entered an exclusive license agreement for Bristol-Myers Squibb (NYSE: BMY) to develop and commercialize Five Prime’s CSF1R antibody program.

Transition Therapeutics (Nasdaq: TTHI) reported that Alzheimer’s disease patients with severe agitation and aggression benefited from ELND005 in a Phase 2/3 study.

Sales of Tata Motors’ (NYSE: TTM) Jaguar Land Rover climbed in September.

On the downside

Seagate Technology (Nasdaq: STX) trimmed its first quarter revenue outlook.

Manitowoc (NYSE: MTW) warned of sharply lower third quarter earnings.

HCA Holdings (NYSE: HCA) reported lower preliminary third quarter earnings and revenue.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by 5 to 2 on Nasdaq. The broader S&P 500 gained 7 points to 2,001. Bitcoin added $2 to $254.