Stocks open modestly higher |
|
|
|
Published
:
Sun, 14 Oct 2007 20:53
|
NEW YORK (AP) - Stocks rose modestly in early trading Friday after readings on inflation and retail sales as well as reports from McDonald's Corp. and General Electric Co. indicated the economy continues to push ahead.The move higher comes a day after a rally fizzled on Wall Street amid concerns about price risks and lowered expectations for the Chinese Internet company Baidu.com.McDonald's pleased investors with a stronger-than-expected profit forecast and sales, while GE reported results that largely met expectations.Among the economic data Wall Street will be mining Friday for signals about the health of the economy, the government reported that retail sales showed a stronger-than-expected gain last month and that wholesale prices jumped in September amid an increase in food and energy costs. After the opening bell, readings are also due on business inventories and consumer sentiment.Prepared remarks for a speech by Federal Reserve Chairman Ben Bernanke on Friday didn't contain references to the economy or the central bank's policy.In the first minutes of trading, the Dow Jones industrial average rose 12.84, or 0.09 percent, to 14,027.96.Broader stock indicators rose. The Standard & Poor's 500 index rose 0.32, or 0.02 percent, to 1,554.73, and the Nasdaq composite index rose 6.98, or 0.25 percent, to 2,779.18.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
|
|
|
|
Print this Story
German shares TFN at a glance outlook 