US stocks rise at start of data-heavy week

US stocks rise higher after it reopened following the Good Friday holiday.
US stocks rise higher after it reopened following the Good Friday holiday.PHOTO: AFP

NEW YORK (AFP) - Wall Street stocks opened modestly higher Monday as a week heavy on economic data began with a report showing slightly higher consumer spending in February.

Five minutes into trade, the Dow Jones Industrial Average was at 17,540.05, up 24.32 points (0.14 per cent), as US markets reopened following the Good Friday holiday.

The broad-based S&P 500 added 3.08 (0.15 per cent) at 2,039.02, while the tech-rich Nasdaq Composite Index rose 7.48 (0.16 per cent) to 4,780.99.

Consumer spending, which accounts for about two-thirds of the activity in the US economy, rose 0.1 per cent in February, matching the previous two months' increases, the Commerce Department said.

Key data releases later this week include consumer confidence, home prices and the March jobs report, which will be published Friday.