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13 May 05: US Stocks Open Higher


U.S. stocks opened higher on Wall Street today-Friday, after Thursday's upbeat news about retail sales.

The Dow Jones Industrial Average and the S&P 500 were up marginally, while the technology-heavy NASDAQ index rose a full one percent in the first minutes of trading.

Upbeat U.S. retail sales data on Thursday followed a surprisingly strong U.S. jobs report last week, putting to rest investor concerns about a softening of the U.S. economy.

European share prices were lower in afternoon trading.

London's Financial Times index was down a half-percent at 4,866. The CAC-40 in Paris was off a third of one percent at 4,002 while the DAX index in Frankfurt was a quarter-percent lower at 4,257.

Earlier in the day, Tokyo's Nikkei index lost 29 points to finish at 11,049. Hong Kong's Hang Seng index closed down 101 points at 13,867.

The price of gold in London was 421 dollars, 45 cents-an-ounce, down two dollars, 85 cents from Thursday.

The dollar in London was higher against the Euro and other major currencies.

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