Stocks were up this morning despite data that showed wholesale prices and jobless claims have risen recently, the Associated Press reported.

A Labor Department report stated that wholesale prices rose 0.3 percent in April, more than the 0.1 percent rise economists had expected, and a reverse from a 1.2 percent drop in March. The increase was driven by a 1.5 percent jump in food prices, while energy prices fell 0.1 percent. Core wholesale prices, which exclude food and energy, rose 0.1 percent.

Wholesale prices over the past 12 months have fallen 3.7 percent, though core wholesale prices have risen 3.4 percent.

Meanwhile, the Labor Department reported today that new claims for unemployment benefits rose to a seasonally adjusted 637,000 last week from a revised 605,000 in the previous week. Analysts expected 610,000 new claims.

The Labor Department attributed the majority of the increase to auto layoffs as Chrysler LLC has laid off 27,000 workers since its April 30 bankruptcy filing. General Motors Corp. has said it will temporarily shut down 13 factories later this month through June, which could affect 25,000 workers.

The number of people continuing to receive benefits rose to 6.56 million in the week ended May 1, from 6.36 million the previous week, the 15th straight week of record highs.

The four-week moving average of claims rose to 630,500 after four straight weeks of declines, but is still below its high in early April.