Wall Street opens higher for fifth straight session

US stock indices opened the fourth session of the week higher on widespread short-covering after marking the worst week in two years, following earlier data from the US, the world's largest economy, and after more fourth-quarter results for some major American corporations. 

Earlier US data showed producer prices rose 0.4% in line with expectations in January, compared to a 0.1% dip in December, while core prices rose 0.4%, compared to a 0.1% slip, and beating expectations of a 0.2% increase. 

Unemployment claims rose 7 thousand to 230 thousand from 223 thousand in the previous reading, above expectations of 229K, while the Philly manufacturing index rose to 25.8 from 22.2 in January, beating forecasts of 21.5. 

The Empire State Manufacturing Index fell to 13.1 in February from 17.7 in January, while industrial production fell 0.1% in January, compared to a 0.4% rise in December, revised from a 0.9% increase, while analysts expected a 0.2% rise. 

The Capacity Utilization Rate fell to 77.5% from 77.7% in December, revised from 77.9%, and missing expectations of 78.0%. 

As of 03:13 GMT, Standard and Poor's 500 rose 0.38%, or 10.21 points to 2,708.84, while Dow Jones advanced 0.60%, or 150.49 points to 25,043.98. 

Tech-heavy NASDAQ rallied 0.71%, or 50.76 points to 7,194.37.