Stocks edge higher after positive economic reports

Better reports on US economy, jobs send stock market higher in early trade; Verizon rises

Associated Press
Stocks post mild gains following economic data
.

View photo

In this Friday, Aug. 16, 2013 photo, trader Michael Hagis works on the floor of the New York Stock Exchange. …

NEW YORK (AP) -- Stocks are edging higher in early trading on Wall Street after encouraging reports on the U.S. economy.

The Dow Jones industrial average rose 19 points, or 0.1 percent, to 14,845 in the first few minutes of trading Thursday.

The Standard & Poor's 500 index rose two points, or 0.2 percent, to 1,637. The Nasdaq composite rose 16 points, or 0.5 percent, to 3,609.

The government raised its estimate for U.S. economic growth in the April through June quarter to 2.5 percent from its earlier estimate of 1.7 percent. The number of Americans seeking unemployment benefits also continued to decline.

Verizon rose after Vodafone confirmed it was in talks to sell Verizon its U.S. wireless phone business. Verizon gained $1.64, or 4 percent, to $48.20.

View Comments (1)