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U.S. stocks open higher to kick off June trading

Xinhua, June 1, 2015 Adjust font size:

U.S. stocks opened higher on Monday, the first trading day of June, as investors meditated on economic data about consumer spending.

U.S. consumers continued to save even as incomes increased. According to a report released by the U.S. Commerce Department on Monday, personal spending was flat in April after rising an upwardly revised 0.5 percent in March, while personal income increased 0.4 percent in April after being flat in March.

Greece remains in focus as it faces a June 5 deadline for a payment to the International Monetary Fund.

Meanwhile, investors were still digesting the second read on first-quarter gross domestic product (GDP).

The U.S. Commerce Department announced Friday that the second estimate of real GDP decreased at an annual rate of 0.7 percent in the first quarter of 2015, in contrast to the initial estimate of a 0.2 percent expansion announced last month.

U.S. stocks declined on Friday after volatile trading as U.S. GDP data came out negative.

Shortly after the opening bell, the Dow Jones Industrial Average added 83.58 points, or 0.46 percent, to 18,094.26. The S&P 500 gained 7.29 points, or 0.35 percent, to 2,114.68.

The Nasdaq Composite Index was up 22.24 points, or 0.44 percent, to 5,092.27. Endi