US shares open slightly higher

Comment on this story
WallStreet1234 Reuters. A Wall Street sign is pictured outside the New York Stock Exchange in New York.

Washington - US shares edged higher in opening trade Monday, as analysts wait to see whether the economy is picking up as the winter ebbs.

Five minutes into trade, the Dow Jones Industrial Average was up 58.66 points (0.36 percent) at 16,361.43.

The broad-based S&P 500 added 4.96 (0.27 percent) at 1,871.48, while the tech-rich Nasdaq Composite rose 4.82 (0.11 percent) to 4,281.60.

US traders were looking to upcoming date releases to confirm the popular argument that harsh winter storms were to blame for economic weakness in the December-February period.

“Incoming data continue to be constrained by adverse weather,” Nomura said in a client report.

“The impact in January appears to have been particularly large, with somewhat more moderate effects in February. We expect fundamental support for growth to gradually show through in coming months.” - Sapa-AFP


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.