Better economic reports send US stocks up at open

NEW YORK (AP) U.S. stocks are opening slightly higher on Wall Street after some positive news about the job market and higher sales from major retail chains.

The Dow Jones industrial average was up 51 points, or 0.4 percent, at 14,983 after the first few minutes of trading Thursday.

The Standard & Poor's 500 index was up six points, or 0.4 percent, at 1,659. The Nasdaq composite was up 16 points, or 0.4 percent, at 3,664.

The number of Americans applying for unemployment benefits last week dropped to a five-year low. Payroll company ADP reported that private sector employment rose by 176,000 jobs last month.

The yield on the 10-year Treasury note rose to 2.94 percent.

This story has been automatically published from the Associated Press wire which uses US spellings

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