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US stocks higher

New York - US stocks opened slightly higher Friday following a solid report on US industrial production in the fourth quarter.

Six minutes into trade, the Dow Jones Industrial Average was up 10.04 points (0.07 percent) at 13,983.43.

Traders work on the floor of the New York Stock Exchange. Credit: REUTERS

The broad-based S&P 500 rose 1.08 points (0.07 percent) to 1,522.46, while the tech-rich Nasdaq Composite increased 2.01 (0.06 percent) to 3,200.67.

The Federal Reserve reported that industrial production fell in January, but the final quarter of last year was much stronger than originally thought, with manufacturing expanding at a 1.9 percent pace.

The data suggests that the initial government estimate of a 0.1 percent contraction in the economy last quarter could be revised upward.

Markets are also looking ahead to a G-20 meeting in Moscow today.

The meeting is expected to focus on currency issues amid talks of a much-feared “currency war” among members. - Sapa-AFP

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