Stock market opens slightly higher

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Associated Press

Posted on September 26, 2013 at 9:02 AM

Updated Thursday, Sep 26 at 9:03 AM

NEW YORK (AP) — The stock market is up slightly in early trading after the U.S. reported greater economic growth in the second quarter than previously estimated.

Another report showed the number of Americans seeking unemployment benefits fell to a six-year low.

The Dow Jones industrial average rose 34 points to 15,308 shortly after the market opened Thursday. The Standard & Poor's 500 index gained five points to 1,697. The Nasdaq climbed 16 points to 3,777.

The Dow and S&P 500 have fallen five consecutive days, spooked by the prospect of a government shutdown. Treasury Secretary Jacob Lew told Congress this week that the Treasury's ability to borrow funds will be exhausted on Oct. 17.

Bed Bath & Beyond rose $3.43 to $77.65. The retailer said Wednesday that its quarterly profit increased 11 percent.

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