U.S. stocks open higher despite gov't shutdown concerns

NEW YORK, Jan. 19 (Xinhua) -- U.S. stocks opened higher on Friday while investors assessed the possibility of a government shutdown.

Shortly after the opening bell, the Dow Jones Industrial Average added 28.27 points, or 0.11 percent, to 26,046.08. The S&P 500 increased 6.4 points, or 0.23 percent, to 2,804.43. The Nasdaq Composite Index was up 20.74 points, or 0.28 percent, to 7,316.79.

The U.S. House of Representatives on Thursday passed a short-term spending bill to avoid a government shutdown, but whether the bill could pass the Senate remains uncertain.

Historically, a government shutdown has led to a short-term pullback in the stock market.

Earnings season kicked into full gear this week, with most results surpassing expectations.

Morgan Stanley, Bank of America, Citigroup, and American Express are among the companies that reported better-than-expected results this week.

On the economic front, U.S. consumer sentiment in January slipped to 94.4, after falling to 95.9 in December, according to a survey released by the University of Michigan on Friday, lower than economists' expectations of 97. Enditem