U.S. Stocks rise on stronger US data

2012-06-27 13:54:44 GMT2012-06-27 21:54:44(Beijing Time) SINA.com

U.S. stocks are opening higher as traders weigh stronger U.S. manufacturing data against the looming debt turmoil in Europe.

Businesses placed more orders for long-lasting manufactured goods in May, suggesting they remain confident in the U.S. economy. The Commerce Department says orders for durable goods rose 1.1 percent after two months of declines.

Markets remain wracked with concern as European leaders prepare for a two-day summit aimed at defusing their lingering debt crisis. German Chancellor Angela Merkel warned Wednesday that there would be no quick solution to the structural issues plaguing the continent.

The Dow Jones industrial average is up 51 points at 12,585 in the first five minutes of trading. The Standard & Poor's 500 index is up eight at 1,327. The Nasdaq is up 16 at 2,870.

(Agencies)

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