(MENAFN– ecpulse)
U.S. stocks opened higher on Wednesday, as Ukraine tensions eased and after a report that showed U.S. manufacturing was improving.
Geopolitical tensions eased after Western powers agreed to hold off on more damaging economic sanctions against Russia unless it went beyond its seizure of Crimea.
Orders to U.S. factories for long-lasting manufactured goods rose in February by the largest amount since November, at 2.2 percent.
Demand for airplanes and automobiles drove the gains. Last month`s rise in durable goods orders followed a 1.3 percent drop in January.
-The Dow Jones Industrial Average gained 0.36% or 59.04 points to 16426.68
-The S&P 500 Index gained 0.42% or 7.88 points to 1873.46
-The NASDAQ Composite gained 0.40% or 17.14 points to 4251.34 . As of 09:59 a.m. ET
Discount retailer Five Below shot up 15 percent after reporting that its income beat analysts` expectations in the latest quarter.
King Digital Entertainment, the maker of popular mobile game Candy Crush, started trading down 8% and continued to slide.
Analyst had low expectations for the stock, with some calling it a " one-trick pony " and comparing it to fellow mobile games maker Zynga.
The IPO was priced at $22.50, in the middle of the expected range. Shares were recently down 10% at $20.22.
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