Wall Street opens higher, led by consumer stocks

US stock indices opened the last session of the week higher, with consumer shares leading the charge, following a basket of data from the US, which showed the Empire State Manufacturing Index dipped slightly to 18.0 in December from 19.4, missing expectations of 18.8. 

US industrial production slowed down to 0.2% in November from 1.2% in October, revised from 0.9%, while analysts expected a 0.3% rise. The Capacity Utilization Rate rose to 77.1% from 77.0% in October, missing expectations of 77.2%. 

Earlier this week, the Federal Reserve voted to increase interest rates by 25 basis points for the third time this year, while updating their three-year forecasts for growth, inflation, unemployment, and interest rates.

Now markets look forward to the tax reform vote in Congress later next week, after the Republican Party in both chambers reached an agreement on the final details, with an aim to cut the corporate rate to 21%. 

As of 04:32 GMT, Standard and Poor's 500 rose 0.69%, or 18.19 points to 2,670.20, while Dow Jones climbed 0.54%, or 133.20 points to 23,641.86. 

Tech-heavy NASDAQ advanced 0.54%, or 37.15 points to 6,893.68.