Stocks up early as Alibaba stock is set to debut
NEW YORK (AP) — Wall Street is opening higher on the day Chinese e-commerce company Alibaba makes its big debut in the stock market.
The Dow Jones industrial average rose 66 points, or 0.4 percent, to 17,332 in early trading Friday, adding to its all-time closing high from the day before. The Standard & Poor's 500 index gained seven points, or 0.4 percent, to 2,018, above its own record high from the previous day.
Alibaba begins trading later on the New York Stock Exchange under the ticker "BABA." The company priced its initial public offering of stock at $68 a share late Thursday.
The British pound weakened against the U.S. dollar after Scotland voted to remain in the United Kingdom.
The yield on the 10-year Treasury note slipped to 2.60 percent, from 2.62 percent late Thursday.