Wall Street opens moderately higher

By Dow Jones newswires

Stocks fell Thursday amid an escalation in tensions on the border between Russia and Ukraine. The Dow fell 0. 25 per cent to 17079. 57 and the S&P declined 0. 2 per cent to 1996. 74.

On the economic front, household spending fell 0. 1 per cent in July, the Commerce Department reported, bucking economists' median forecast for a 0. 1 per cent increase.

The yield on the benchmark 10-year US Treasury note fell to 2. 334 per cent on Thursday, hitting the lowest level since June 2013.

Continued improvement in economic data and earnings growth among companies should lift stocks, said Karyn Cavanaugh, a senior market strategist at Voya Investment Management. "If companies can make money and the market can move ahead in a slow US growth environment," the trend should continue as growth picks up, she said.

In commodity markets, crude-oil futures rose 0. 5 per cent to $US95. 04 a barrel. Gold futures fell 0. 3 per cent to $US1,286. 80 an ounce.

In corporate news, Apple Inc. has sent out invitations to an event on Sept. 9, where the company is expected to launch its annual iPhone upgrade. Shares inched up 0. 3 per cent premarket.

The euro zone's annual rate of inflation fell to 0. 3 per cent in August from 0. 4 per cent in July.

On Thursday, US second-quarter economic growth was revised higher to 4. 2 per cent from 4 per cent previously.

Read more here: Business Spectator


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