US stocks open higher after Europe gains
NEW YORK: US stocks opened higher Friday in the wake of sound gains on Europe's bourses on the last day of New York trade before the long Memorial Day holiday weekend.
"The bulls are trying to pare losses for the week that have come courtesy of continued euro-area debt uneasiness and concerns regarding a slowdown in the global economy," said analysts at broker Charles Schwab.
The Dow Jones Industrial Average added 50.40 points (0.41 percent) at 12,453.16 in the first five minutes of trade.
The broader S&P 500 rose 4.76 (0.36 percent) to 1,330.45, while the tech-heavy Nasdaq Composite gained 7.43 points (0.27 percent) at 2,790.35.
Gains were spread evenly around most sectors, with energy counters jumping on a rise in crude oil prices.
Copyright AFP (Agence France-Presse), 2011
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