Stocks Open Up, Dow Scores Triple-digit Gain

U.S. stocks began  higher on Friday after the report that consumer spending, incomes rise as winter’s effects melt away . The Dow Jones Industrial Average lately gained 108.05 points, or 0.66%, at 16,372.28. The S&P 500 added 11.84 points, or 0.64%, at 1,860.88. The Nasdaq Composite was up 31.01 points, or 0.75%, at 4,182.24.

Consumer spending rose in February at the fastest rate since November as Americans spent more on services such as health care and utilities, but in a negative sign, purchases of big-ticket items such as new cars fell for the third straight month. Spending climbed 0.3% last month on a seasonally adjusted basis, the Commerce Department reported Friday. Personal income also rose 0.3% in February.

Blackberry Ltd. reported an operating loss of $423 million, or 80 cents a share and revenue of $976 million for the fourth- quarter, below analyst expectations of $11.1 billion and down 64% from the same quarter the year before. The company said Friday sales fell by 18% in its fourth-quarter.

Wal-Mart Stores Inc (WMT) this week sued Visa Inc (V) for $5 billion, accusing the credit and debit card network of excessively high card swipe fees, several months after the retailer opted out of a class action settlement between merchants and Visa and MasterCard Inc (MA).

Tesla Motors Inc. said it would add titanium shielding and an aluminum deflector plate to the underbody of its Model S luxury electric car to prevent possible fires that could be caused by running over objects.

Euro-area economic confidence increased more than analysts forecast in March, easing pressure on the European Central Bank to take
action next week to counter low inflation and spur growth. An index of executive and consumer sentiment rose to 102.4 from 101.2
in February, the European Commission in Brussels said.