US stocks edge higher in early trade; Citigroup gains

AP News
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Posted: Oct 15, 2015 9:44 AM
US stocks edge higher in early trade; Citigroup gains

NEW YORK (AP) — Stocks are opening slightly higher following two days of losses as investors respond to some positive earnings surprises.

Citigroup led bank shares higher early Thursday after the bank reported better profits for the third quarter than analysts were expecting. Citi was up 2 percent and KeyCorp rose 4 percent.

Technology shares also rose in early trading.

The Dow Jones industrial average climbed 30 points, or 0.2 percent, to 16,957 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index rose seven points, or 0.4 percent, to 2,001. The Nasdaq composite rose 29 points, or 0.6 percent, to 4,812.

The price of oil fell 1 percent to $46 a barrel in New York.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.01 percent.