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US stocks higher on strong jobs, spending news

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June 27, 2013 09:48 AM EST | AP

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NEW YORK — Better news on jobs and consumer spending are pushing stocks higher in early trading.

The Dow Jones industrial average was up 112 points, or 0.8 percent, at 15,022 after the first few minutes of trading Thursday.

The Standard & Poor's 500 index was up 10 points, or 0.7 percent, at 1,614. All 10 industry groups in the index rose.

The yield on the 10-year Treasury note fell to 2.48 percent, declining for the second day in a row.

The number of Americans seeking unemployment benefits fell 9,000 to 346,000 last week. Consumers spent more in May as their income increased at the fastest pace in three months.

Conagra rose 3.7 percent to $1.21 after the company that makes Chef Boyardee reported earnings that beat analysts' estimates.