U.S. stocks opened firmly higher on Thursday as strong economic data brought back appetite for riskier assets. The Dow Jones Industrial Average lately rose 50.87 points, or 0.23%, to 21,943.30. The S&P 500 climbed 8.22 points, or 0.33%, to 2,465.81. The Nasdaq Composite rose 28.85 points, or 0.45%, to 6,397.16.
Oil prices rose on Thursday, as flooding due to now-Tropical Storm Harvey continued to wreck havoc on refineries along the Gulf Coast. Crude oil for October rose 15 cents, or 0.3%, to $46.11 a barrel, while Brent for the same month added 3 cents to $50.75.
Helped by higher incomes and low inflation, Americans bought more furnishings for their homes in July and also ratcheted up spending at hotels and restaurants. Consumer spending rose 0.3% last month, the Commerce Department reported Thursday.
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