Markets Right Now: Stocks open higher on Wall Street

NEW YORK (AP) — The latest on developments in global financial markets (all times local):

9:40 a.m.

Stocks are trading slightly higher at the opening on Wall Street as investors welcome a report suggesting economic growth was stronger than expected in the first quarter.

Consumer stocks rose the most Friday. Ulta Salon jumped nearly 10 percent on strong first-quarter results.

In deal news machinery maker Terex plunged 19 percent after Chinese rival Zoomlion abandoned its months-old takeover attempt.

The price of benchmark crude fell1 percent to $48.90 in New York.

The Dow was up 30 points, or 0.2 percent, to 17,857. The Standard and Poor’s 500 index was up 4 points, or 0.2 percent, to 2,095. The Nasdaq composite climbed 13 points, or 0.3 percent, to 4,914.

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