US stocks up on economic data

US stocks opened higher today as better-than-expected economic news edged on investors.

The US Commerce Department said spending on construction projects increased by 0.9% in October, exceeding economist forecasts for 0.7% growth.

Total construction spending for the month reached a record $922bn (€771.46bn). Also in a separate report data showed that factory production is increasing at its fastest pace in 20 years.

The Blue chip index Dow added 67 points, or 0.7%, to 9,850. Movers here included DuPont whose share rose 1.1% after saying it planned to announce layoffs in April next year as part of a $900m (€753.05m) cost cutting plan.

Boeing shares dipped 0.7% after Chairman Phil Condit suddenly resigned.

Walt Disney's share price hiked up 0.3% after its vice chairman and nephew of its founder resigned and said chief executive Michael Eisner should resign as well.

The S&P 500 rose 6 points, or 0.6%, to 1,064 and the Nasdaq Composite added 17 points, or 0.9 %, to 1,977.