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Stocks open higher on upbeat economic data

October 25, 2012|By Andrew Tangel
  • A trader works on the floor of the New York Stock Exchange.
A trader works on the floor of the New York Stock Exchange. (Mario Tama / Getty Images )

Stocks opened higher Thursday after overall upbeat but mixed U.S. economic data, along with signs that Britain has emerged from its double-dip recession.

The Dow Jones industrial average rose 66 points, or 0.5%, to 13,143 shortly after the opening bell.

The broader Standard & Poor's 500 index was up eight points, or 0.6%, to 1,417. The Nasdaq rose 16 points, or 0.6%, to 2,998.

The U.S. Labor Department said jobless claims declined last week, while the Commerce Department reported a 10% increase in orders for durable goods in September, following a decline in August.

Pending home sales edged up slightly in September, according to the National Assn. of Realtors. The association's Pending Home Sales Index rose to 99.5, from 99.2 in August -- lower than expected. The index was still 14.5% above where it was in the same month last year.

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