US stocks edge higher

Comment on this story
IOL wall street THE PHOTO HOLIC File image

New York - US stocks Thursday opened slightly higher as investors digested mixed economic data while awaiting congressional testimony from US Federal Reserve Chair Janet Yellen.

Five minutes into trade, the Dow Jones Industrial Average added 5.65 points (0.03 percent) at 16,024.06.

The broad-based S&P 500 ticked up 0.74 (0.04 percent) at 1,845.90, while the tech-rich Nasdaq Composite Index rose 3.55 (0.08 percent) to 4,295.61.

New claims for US unemployment insurance benefits increased more than expected last week but remained within the trend this year.

Meanwhile, new orders for durable goods fell for a second straight month, but rose 1.1 percent when orders for transportation equipment, a volatile sector, were excluded.

Investors were keen to hear Senate testimony from Yellen, who is expected to be queried on a recent batch of weaker economic reports.

Analysts have given less weight to the data due to severe winter weather. - 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.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines