The Dow opened higher Thursday while the Nasdaq dropped as investors looked ahead to major US economic data releases after closing the books on a dismal third quarter.

Five minutes into trade, the Dow Jones Industrial Average was at 16,308.15, up 23.45 points (0.14 percent).

The broad-based S&P 500 edged up 1.81 (0.09 percent) to 1,921.84, while the tech-rich Nasdaq Composite Index shed 15.31 (0.33 percent) at 4,604.86.

Analysts said the market could benefit Thursday from an inflow of money that sometimes accompanies a new month and, in this case, a new quarter.

The S&P 500 fell 6.94 percent in the third quarter to register its worst three-month stretch in four years.

Investors are looking ahead to major economic data releases, especially Friday's US jobs report for September.