Wall Street stocks shrug off jobs data US equity markets moved higher in early trade, shrugging off disappointing weekly jobless data which showed first-time unemployment claims rose unexpectedly last week. The rise was more than economists predicted and indicates a loss in momentum in the labour market, however weekly claims are volatile and prone to seasonal changes. Investors were keenly awaiting the main monthly employment figures due on Friday. The benchmark S&P 500 index added 0.5 per cent to 1,561.42 after some heavy selling during the previous session. Nearly all main sectors were trading in positive territory with gains led by materials and financials. Banking stocks, which suffered some heavy losses on Wednesday, attracted buyers, with the S&P 500 financial sector rising 1 per cent. Bank of America rose 1.3 per cent to $11.97, Wells Fargo added 1.1 per cent to $47.08. The Dow Jones Industrial Average, which tracks 30 blue-chip stocks and is a price-weighted index, rose 0.4 per cent to 14,604.61. The technology-heavy Nasdaq Composite was lagging behind other benchmarks and was only marginally higher at 3,219.71. Nasdaq's biggest component, Apple, lost 0.5 per cent to $429.77, after its largest rival Samsung announced a partnership with Best Buy to open mini-stores to showcase its smartphones and tablets. Shares in Best Buy rallied on the news, rising 4 per cent to $22.52, almost doubled since the start of the year. Facebook shares rose as the largest social network partnered with HTC to introduce a mid-range Android phone that will incorporate deep Facebook functionality. The company has been criticised for being slow to monetise its advertising on mobile devices. The stock rose 1.5 per cent to $26.68, but is still well below its IPO price of $38. MetroPCS shares rallied 1.8 per cent to $11.19 after Reuters reported that Deutsche Telekom was still working on a deal to buy the mobile operator.