Stocks Open Higher; Traders Hope For ECB Action

By: AP
By: AP

Stocks are opening higher on Wall Street as investors hope for action from the European Central Bank to keep the euro together.

The Dow Jones industrial average is up 55 points to 12,943 shortly after the opening bell Friday. Merck was the biggest gainer in the Dow after reporting earnings that were stronger than analysts were expecting.

Markets were rising for a second day following a pledge from the European Central Bank president to do whatever it takes to preserve the region's monetary union.

Investors shrugged off the latest troubling sign about the U.S. economy, that growth slowed in the second quarter.

The Standard & Poor's 500 is up seven to 1,367. The Nasdaq composite index is up 15 to 2,908.

Starbucks and Facebook fell after reporting weak results.

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