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U.S. stocks open higher as dollar falls

Xinhua, March 12, 2015 Adjust font size:

U.S. stocks opened higher on Thursday, rebounding after two days of declines, as the U.S. dollar paused its recent big rally.

The dollar fell in the early Thursday after climbed to a 12-year high against the euro on Wednesday. The euro increased to 1.0629 dollars in the early trading from 1.0535 in the previous session.

Retail trade sales for February were down 0.6 percent from January 2015, missing expectations, according to the U.S. Commerce Department Thursday.

A surprise drop in retail sales eased some investors' concern about how soon the Federal Reserve may raise interest rates, propelling indices in the early trading.

U.S. stocks inched down after wavering between gains and losses in a tight range Wednesday, as investors followed closely hints of the timing of a rate hike.

It is reported that the central bank is strongly considering dropping the language of "patient" in its approach toward rates hike before acting, which would pave the way for a discussion about rate increases at its June meeting.

In the week ending March 7, the advance figure for seasonally adjusted initial claims was 289,000, a decrease of 36,000 from the previous week's revised level, said the U.S. Labor Department Thursday.

Shortly after the opening bell, the Dow Jones Industrial Average surged 117.77 points, or 0.67 percent, to 17,753.16. The S&P 500 was up 11.56 points, or 0.57 percent, to 2,051.80. The Nasdaq Composite Index gained 13.29 points, or 0.27 percent, to 4,863.23. Endi