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U.S. stocks open higher in last trading day of Q3

Xinhua, September 30, 2016 Adjust font size:

U.S. stocks opened higher on Friday, the last trading day of the third quarter, as investors kept close eyes on newly-released data and Deutsche Bank shares.

On the economic front, U.S. personal income increased 39.3 billion U.S. dollars, or 0.2 percent, in August, according to the U.S. Department of Commerce Friday.

Disposable personal income (DPI) rose 31.9 billion dollars, or 0.2 percent, and personal consumption expenditures (PCE) increased 6.2 billion dollars, or less than 0.1 percent.

Meanwhile, the final reading of the consumer sentiment for September was 91.2, better than market estimates, said the Thomson Reuters/University of Michigan index of consumer sentiment on Friday.

In corporate news, Deutsche Bank's shares rebounded over 6 percent in the early trading Friday, a day after a report that a group of hedge funds were reducing their exposure to the giant financial institution.

Deutsche Bank's U.S.-listed shares hit an all-time low and sank 6.67 percent to 11.48 dollars apiece Thursday, which caused a broad-based sell-off in bank equities.

Analysts said Thursday's selloff was an overreaction and the market is walking back Friday.

Shortly after the Friday's opening bell, the Dow Jones Industrial Average was up 122.11 points, or 0.67 percent, to 18,265.56 points. The S&P 500 gained 12.13 points, or 0.56 percent, to 2,163.26 points. The Nasdaq Composite Index rose 24.66 points, or 0.47 percent, to 5,293.82 points. Endi