Stocks open higher ahead of Memorial Day holiday

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Associated Press

Posted on May 23, 2014 at 8:02 AM

Updated Friday, May 23 at 8:02 AM

The U.S. stock market is edging mostly higher in quiet trading ahead of the Memorial Day weekend.

The Standard & Poor's 500 index rose two points, or 0.1 percent, to 1,894 in the first few minutes of trading Friday.

The Dow Jones industrial average rose 36 points, or 0.2 percent, to 16,580. The Nasdaq composite fell four points, or 0.1 percent, to 4,150.

Foot Locker rose 2 percent after reporting a 17 percent increase in its latest quarterly earnings thanks to stronger sales and wider profit margins.

Video game seller GameStop rose 4 percent after reporting earnings that were higher than analysts were expecting.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.53 percent from 2.55 percent late Thursday.

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