US stock market opens higher, breaking a 4-day slump; price of oil falls

NEW YORK – U.S. stocks are opening modestly higher after four losing days.

Cruise operator Carnival jumped 6 percent in early trading Friday after reporting income that was far higher than Wall Street analysts were expecting.

The Dow Jones industrial average rose seven points, or 0.1 percent, to 17,685 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index rose a point to 2,057. The Nasdaq composite rose 17 points, or 0.4 percent, to 4,880.

The price of oil fell $1.31 to $50.12 a barrel in New York.

Government bond prices rose. The yield on the 10-year Treasury fell to 1.97 percent from 1.99 percent late Thursday.