Stocks open higher on Wall Street as indexes head for solid weekly gains; Nike slumps

The Associated Press

FILE - In this March 14, 2014, file photo, trader Gregory Rowe, center, works on the floor of the New York Stock Exchange. World stock markets bounced back Friday March 21, 2014 as upbeat U.S. economic data helped shake off worries about future increases in U.S. interest rates. (AP Photo/Richard Drew, File)

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NEW YORK (AP) — Stocks are higher in early trading as the market gets set to close out a turbulent week with solid gains.

The Standard & Poor's 500 index rose nine points, or 0.5 percent, to 1,881 in the first few minutes of trading Friday.

The Dow Jones industrial average rose 74 points, or 0.4 percent, to 16,405. The Nasdaq composite rose eight points, or 0.2 percent, to 4,238.

All three major U.S. indexes are up 2 percent for the week.

Nike fell 4 percent after the company said a stronger U.S. dollar will dampen its sales this quarter.

Bond prices were little changed. The yield on the 10-year Treasury note held steady at 2.77 percent.

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