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U.S. stocks open higher as Nasdaq on track for strong monthly gain
From:Xinhua  |  2017-05-31 23:01

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NEW YORK, May 31 (Xinhua) -- U.S. stocks opened slightly higher on Wednesday, the last session in May, as the Nasdaq composite tried to lock in strong monthly gains.

Shortly after the opening bell, the Dow Jones Industrial Average was up 13.35 points, or 0.06 percent, to 21,042.82. The S&P 500 added 2.61 points, or 0.11 percent, to 2,415.52. The Nasdaq Composite Index gained 17.69 points, or 0.29 percent, to 6,220.88.

The tech-heavy Nasdaq has added 2.6 percent for the month, on track for its consecutive seventh monthly gains, its longest winning streak since 2013.

In corporate news, U.S. retailer Michael Kors announced plans Wednesday to close 100 to 125 of its full-price locations over the next two years, amid the trend that an increasing number of consumers choose to shop online. Shares of its stock decline more than 9 percent during Wednesday's premarket trading after the announcement.

Meanwhile, investors were awaiting the closely-watched pending home sales data and the Federal Reserve's Beige Book due out later on Wednesday.

U.S. stocks closed lower on Tuesday as economic data from the country came out below expectations.

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