US open: Stocks trade slightly higher amid stronger-than-expected economic data

US stocks were trading slightly higher in the early going following the release of a batch of upbeat economic reports.

At 1511 BST, the Dow Jones Industrial Average was edging up 0.14% to 33,766.12, the S&P 500 was ahead by 0.20% to 4,337.50 and the Nasdaq Composite was rising by 0.35% to 13,381.17.

In parallel, the yield on the benchmark 10-year US Treasury note was adding three basis points to 3.755%.

The Conference Board's consumer confidence index strengthened from a reading of 102.5 for May to 109.7 in June (consensus: 103.5).

A gauge of their expectations popped from 71.5 to 79.3, but remained a share below the 80 point mark associated with a recession over the following year.

New home sales jumped by 12.2% over the month in May to reach an annual rate of 763,000 (consensus: 659,000).

Orders for durable goods in the US jumper at a month-on-month pace of 1.7% in May (consensus: -1.0%).

The bulk of the increase was attributable to orders for civilian aircraft but the details of the report were nevertheless stronger-than-expected.

The S&P Case Shiller national home price index dipped by 0.2% year-on-year in April (Bank of America: -0.1%).

Yet S&P DJI managing director, Craig Lazzara, said: "If I were trying to make a case that the decline in home prices that began in June 2022 had definitively ended in January 2023, April's data would bolster my argument."

Walgreens was on the back foot with its share hitting an 11-year low after the retail pharmacy chain posted weaker than expected quarterly profits and cut its full-year outlook.

Elsewhere on the corporate front, Circor surged 9% after agreeing to be bought by KKR in a sweetened $1.7bn deal.

Elsewhere, Stratasys rose 7% after 3D Systems lifted its cash and share bid for the 3D printer company.

Ford shares were bid 0.5% higher after the Wall Street Journal reported that the carmaker was planning at least 1,000 layoffs in North America.

Dow Jones - Risers

Microsoft Corp. (MSFT) $333.76 1.57%
Salesforce.Com Inc. (CRM) $209.85 1.20%
Nike Inc. (NKE) $112.96 1.09%
Cisco Systems Inc. (CSCO) $50.70 0.98%
Home Depot Inc. (HD) $310.76 0.93%
Apple Inc. (AAPL) $186.96 0.91%
McDonald's Corp. (MCD) $290.79 0.59%
Visa Inc. (V) $227.45 0.51%
Boeing Co. (BA) $206.54 0.47%
Verizon Communications Inc. (VZ) $36.28 0.46%

Dow Jones - Fallers

Walgreens Boots Alliance, Inc. (WBA) $28.40 -10.10%
Amgen Inc. (AMGN) $222.17 -1.14%
3M Co. (MMM) $99.40 -1.00%
Intel Corp. (INTC) $33.16 -0.54%
Johnson & Johnson (JNJ) $162.76 -0.53%
Chevron Corp. (CVX) $153.31 -0.45%
Merck & Co. Inc. (MRK) $112.59 -0.43%
Dow Chemical Co. (DOW) $51.74 -0.40%
Caterpillar Inc. (CAT) $236.09 -0.37%
International Business Machines Corporation (CDI) (IBM) $131.04 -0.23%

S&P 500 - Risers

Carnival Corp. (CCL) $15.14 3.68%
Arista Networks Inc. (ANET) $154.97 2.75%
American Airlines Group (AAL) $16.86 2.59%
Norwegian Cruise Line Holdings Ltd (NCLH) $18.99 2.48%
Booking Holdings Inc. (BKNG) $2,675.00 2.26%
Kellogg Co. (K) $66.98 2.10%
Fortinet Inc. (FTNT) $72.42 1.91%
Meta Platforms Inc. (META) $283.59 1.84%
United Airlines Holdings Inc (UAL) $54.21 1.67%
Microsoft Corp. (MSFT) $333.76 1.57%

S&P 500 - Fallers

Walgreens Boots Alliance, Inc. (WBA) $28.40 -10.10%
CF Industries Holdings Inc. (CF) $67.62 -3.43%
Illumina Inc. (ILMN) $185.93 -3.10%
Mosaic Company (MOS) $33.34 -2.93%
DaVita Inc (DVA) $94.25 -2.91%
CVS Health Corp (CVS) $67.82 -2.90%
Thermo Fisher Scientific Inc. (TMO) $508.74 -2.55%
Danaher Corp. (DHR) $231.88 -2.52%
Perrigo Company plc (PRGO) $32.64 -2.39%
Zions Bancorporation (ZION) $26.60 -1.77%

Nasdaq 100 - Risers

NetEase Inc. Ads (NTES) $96.40 4.22%
American Airlines Group (AAL) $16.86 2.59%
Trip.com Group Limited (TCOM) $34.76 2.27%
Booking Holdings Inc. (BKNG) $2,675.00 2.26%
Mercadolibre Inc. (MELI) $1,177.61 1.91%
Baidu Inc. (BIDU) $142.24 1.90%
Meta Platforms Inc. (META) $283.59 1.84%
JD.com, Inc. (JD) $35.60 1.80%
Vodafone Group Plc ADS (VOD) $9.16 1.78%
Workday, Inc. (WDAY) $223.79 1.75%

Nasdaq 100 - Fallers

Walgreens Boots Alliance, Inc. (WBA) $28.40 -10.10%
Qurate Retail Inc. (QRTEA) $0.81 -3.86%
Illumina Inc. (ILMN) $185.93 -3.10%
Micron Technology Inc. (MU) $64.32 -1.73%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $456.82 -1.46%
Biogen Inc (BIIB) $278.01 -1.27%
Amgen Inc. (AMGN) $222.17 -1.14%
Regeneron Pharmaceuticals Inc. (REGN) $776.02 -1.07%
Seagate Technology Plc (STX) $60.03 -0.87%
Incyte Corp. (INCY) $62.40 -0.86%