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U.S. stocks open higher amid data

Xinhua, July 15, 2016 Adjust font size:

U.S. stocks opened higher Friday as Wall Street meditated on a batch of economic reports.

The U.S. Commerce Department announced Friday that advance estimates of U.S. retail and food services sales for June increased 0.6 percent from the previous month to 457.0 billion U.S. dollars, beating market consensus of a 0.1-percent gain.

The U.S. Consumer Price Index (CPI) for all urban consumers increased 0.2 percent in June on a seasonally adjusted basis, the Labor Department reported Friday.

The index for all items less food and energy increased 0.2 percent in June, and it has increased 2.3 percent over the past 12 months.

Meanwhile, U.S. industrial production increased 0.6 percent in June after declining 0.3 percent in May, said the Federal Reserve Friday.

For the second quarter as a whole, industrial production fell at an annual rate of 1.0 percent, its third consecutive quarterly decline.

Shortly after the opening bell, the Dow Jones Industrial Average rose 50.61 points, or 0.27 percent, to 18,557.02. The S&P 500 added 5.15 points, or 0.24 percent, to 2,168.90. The Nasdaq Composite Index was up 10.17 points, or 0.20 percent, to 5,044.23.

U.S. stocks rallied Thursday on upbeat economic data, with the Dow and the S&P 500 setting their new intraday and closing highs. Endi