NEW YORK (AP) — Stocks are rising in early trading on signs that consumers are spending more than expected this holiday season.
Retailers reported November revenue results that beat analyst expectations. Teen retailer Abercrombie & Fitch Co. said that its net sales rose 32 percent from the same time last year.
Retail spending figures overshadowed a Labor Department report that new jobless claims rose more than analysts were expecting. New unemployment claims rose to 436,000 in the week that ended Nov. 27. Analysts had expected a rise to 420,000.
The Dow Jones industrial average is up 16, or 0.2 percent, to 1,207. The S&P 500 is up 1, or 0.1 percent, to 1,207. The Nasdaq composite index is up 4, or 0.2 percent, to 2,553.