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Stocks edge higher after positive economic reports

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August 29, 2013 09:52 AM EST | AP


NEW YORK — Stocks are edging higher in early trading on Wall Street after encouraging reports on the U.S. economy.

The Dow Jones industrial average rose 19 points, or 0.1 percent, to 14,845 in the first few minutes of trading Thursday.

The Standard & Poor's 500 index rose two points, or 0.2 percent, to 1,637. The Nasdaq composite rose 16 points, or 0.5 percent, to 3,609.

The government raised its estimate for U.S. economic growth in the April through June quarter to 2.5 percent from its earlier estimate of 1.7 percent. The number of Americans seeking unemployment benefits also continued to decline.

Verizon rose after Vodafone confirmed it was in talks to sell Verizon its U.S. wireless phone business. Verizon gained $1.64, or 4 percent, to $48.20.