Stocks Open Up as Alibaba Debuts, Scots Stay in UK

U.S. stocks opened higher on Friday after Scotland’s vote to remain in the United Kingdom removed market uncertainty and Alibaba’s (BABA.N) strong pricing gave support to risk assets.The Dow Jones industrial average lately rose 72.22 points, or 0.42%, to 17,338.21. The S&P 500 gained 6.45 points, or 0.32%, to 2,017.81. The Nasdaq Composite added 11.59 points, or 0.25%, to 4,605.01.

Scottish voters rejected a heated bid for independence. The tally showed 55% of voters rejecting the independence question and 45% favoring it, a convincing win that defied polls suggesting the referendum was neck-and-neck.

Alibaba Group Holding Ltd. ‘s shares priced Thursday at $68 apiece, putting the Chinese company on track for an initial public offering that will raise at least $21.8 billion.

New York’s labor department reports the state total of private sector jobs increased by 3,900 in August. State officials say the 0.1 percent gain raises New York’s overall job count to a record of 7,605,000.

German software giant SAP SE agreed to buy Concur Technologies Inc., which makes software to help employees manage their expense accounts, in a deal valued at $8.3 billion.

Germany’s Siemens is considering a bid for compressor and turbine maker Dresser-Rand that could potentially derail a merger between Dresser-Rand and Swiss pump maker Sulzer, according to several media reports on Friday.

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