US stocks rise in early trading; Citi jumps

Stocks rise in early trading on Wall Street; Pandora plunges after predicting a loss

Associated Press
Stocks gain on "cliff" hope, led by banks
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FILE - In this Nov. 15, 2012, file photo, traders work on the floor at the New York Stock Exchange, in New York. World stock markets meandered Tuesday, Dec. 4, as traders weighed a surprise drop in U.S. factory production against hopes that the U.S. will avoid the so-called fiscal cliff. (AP Photo/Seth Wenig, File)

NEW YORK (AP) -- Stocks are opening mostly higher on Wall Street as traders hope for more economic stimulus measures from China.

Citigroup rose 4 percent after the bank said it would slash 11,000 jobs.

Shortly after the opening bell Wednesday, the Dow Jones industrial average was up 52 points at 13,003.

The Standard & Poor's 500 index was up three points at 1,410. The Nasdaq composite slipped three points to 2,993.

Internet radio company Pandora Media predicted a loss in the fourth quarter, a bad surprise for investors. The stock plunged 14 percent.

The Shanghai Composite Index jumped 2.9 percent after the Chinese government pledged to maintain policies intended to strengthen the economy. China also said it was willing to "fine tune" those policies and make them more effective.

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