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U.S. stocks open higher after sharp gains

Xinhua,February 16, 2018 Adjust font size:

NEW YORK, Feb. 16 (Xinhua) -- U.S. stocks opened higher on Friday after posting sharp gains in the previous five sessions.

Shortly after the opening bell, the Dow Jones Industrial Average added 34.63 points, or 0.14 percent, to 25,235.00. The S&P 500 increased 1.50 points, or 0.05 percent, to 2,732.70. The Nasdaq Composite Index was up 4.17 points, or 0.06 percent, to 7,260.60.

U.S. equities continued to rise on Friday, as major indices tried to notch a six-day winning streak, as investors were digesting the latest economic data from the country.

The U.S. Commerce Department said on Friday that privately-owned housing starts in January were at a seasonally adjusted annual rate of 1,326,000, which was 9.7 percent above the revised December estimate of 1,209,000.

The latest reading marked the highest level since October 2016 and beat market expectations.

Investors were awaiting the consumer sentiment data due later on Friday.

The major indices closed sharply higher on Thursday after choppy trading. The Dow jumped over 300 points, while the S&P 500 and Nasdaq gained more than 1 percent. Enditem

 

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