Investing.com - U.S. stocks opened higher in thin trade on Friday, after U.S. data came in in line with expectations as markets turned to the Federal Reserve's upcoming policy meeting next week.
During early U.S. trade, the Dow Jones Industrial Average edged up 0.14%, the S&P 500 index rose 0.29%, while the Nasdaq Composite index gained 0.44%.
Official data showed that U.S. producer price inflation fell 0.1% last month, in line with expectations, after a 0.2% decline in October.
Core producer price inflation, which excludes food and energy, rose 0.1% in November, as expected, after a 0.2% increase the previous month.
The data did little to alter expectations that the Fed could begin tapering its USD85 billion a month asset purchase program at its policy meeting scheduled for December 17-18.
In the financial sector, Bank of America climbed 0.43% after it agreed to pay USD131.8 million to settle Securities and Exchange Commission charges that its Merrill Lynch unit misled investors about mortgage-backed securities.
Adding to gains, Texas Industries rose 0.33% amid reports its owners are exploring a sale of the Dallas-based building materials company.
In similar news, American International Group, up 0.20% and which has been unable to complete the sale of its jet-leasing business to a group of Chinese bidders, was said to be in talks to sell that unit to AerCap Holdings.
Among auto companies, General Motors gained 0.60% after announcing plans to sell its entire stake in Peugeot. Following the news, shares in the French carmaker dove 10.45% in European trade.
Elsewhere, Adobe Systems rallied 10.06% after reporting more customers for its online software in the fourth quarter than expected.
Other stocks likely to be in focus included Landstar Systems, scheduled to release quaterly earnings later in the day.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 rose 0.34%, France’s CAC 40 advanced 0.31%, Germany's DAX added 0.14%, while Britain's FTSE 100 edged 0.22% higher.
During the Asian trading session, Hong Kong's Hang Seng Index added 0.12%, while Japan’s Nikkei 225 Index gained 0.40%.
During early U.S. trade, the Dow Jones Industrial Average edged up 0.14%, the S&P 500 index rose 0.29%, while the Nasdaq Composite index gained 0.44%.
Official data showed that U.S. producer price inflation fell 0.1% last month, in line with expectations, after a 0.2% decline in October.
Core producer price inflation, which excludes food and energy, rose 0.1% in November, as expected, after a 0.2% increase the previous month.
The data did little to alter expectations that the Fed could begin tapering its USD85 billion a month asset purchase program at its policy meeting scheduled for December 17-18.
In the financial sector, Bank of America climbed 0.43% after it agreed to pay USD131.8 million to settle Securities and Exchange Commission charges that its Merrill Lynch unit misled investors about mortgage-backed securities.
Adding to gains, Texas Industries rose 0.33% amid reports its owners are exploring a sale of the Dallas-based building materials company.
In similar news, American International Group, up 0.20% and which has been unable to complete the sale of its jet-leasing business to a group of Chinese bidders, was said to be in talks to sell that unit to AerCap Holdings.
Among auto companies, General Motors gained 0.60% after announcing plans to sell its entire stake in Peugeot. Following the news, shares in the French carmaker dove 10.45% in European trade.
Elsewhere, Adobe Systems rallied 10.06% after reporting more customers for its online software in the fourth quarter than expected.
Other stocks likely to be in focus included Landstar Systems, scheduled to release quaterly earnings later in the day.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 rose 0.34%, France’s CAC 40 advanced 0.31%, Germany's DAX added 0.14%, while Britain's FTSE 100 edged 0.22% higher.
During the Asian trading session, Hong Kong's Hang Seng Index added 0.12%, while Japan’s Nikkei 225 Index gained 0.40%.