Markets Right Now: Stocks Open Higher on Wall Street – ABC News

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The latest on developments in global financial markets (all times local):

9:35 a.m.

Stocks are opening slightly higher on Wall Street as the market comes off its best week since early March.

Investors were encouraged by a report early Tuesday that consumer spending increased in April at the fastest rate in six years.

Botox maker Allergan rose 2 percent after the activist investor Carl Icahn said he had accumulated a large stake in the company.

The Dow Jones industrial average edged up 11 points, or 0.1 percent, to 17,888. The Standard and Poor’s 500 index gained 3 points, or 0.1 percent, to 2,101. The Nasdaq composite climbed 12 points, or 0.3 percent, to 4,945.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.89 percent.