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Stocks up in early trading on Wall Street

June 14, 2012|By Andrew Tangel
  • Stocks opened higher on Wall Street.
Stocks opened higher on Wall Street. (Richard Drew / Associated…)

Spain's borrowing costs jumped, U.S. unemployment claims rose but so did hourly earnings.

Investors facing a mix of economic news pushed major U.S. stock indexes higher in early trading on Wall Street.

The Dow Jones industrial average rose 74 points, or 0.6%, to 12,571 shortly after the opening bell.

The broader Standard & Poor's 500 index was up 7 points, or 0.6%, to 1,322.

The technology-focused Nasdaq was up 9 points, or 0.3%, to 2,828.

Spain, which recently accepted a European bailout for its banking system, saw its borrowing costs hit 7%, following a downgrade by Moody's Investors Service.

The U.S. Labor Department, meanwhile, said weekly unemployment applications rose to 386,000, up from 380,000 the previous week, the Associated Press reported.

Meanwhile, the federal government also reported that Americans' average hourly earnings rose 0.3% from April to May.

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