US shares open slightly higher

US shares open slightly higher

WASHINGTON - US shares edged higher in opening trade Monday, as analysts wait to see whether the economy is picking up as the winter ebbs.

Five minutes into trade, the Dow Jones Industrial Average was up 58.66 points (0.36 per cent) at 16,361.43.

The broad-based S&P 500 added 4.96 (0.27 per cent) at 1,871.48, while the tech-rich Nasdaq Composite rose 4.82 (0.11 per cent) to 4,281.60.

US traders were looking to upcoming date releases to confirm the popular argument that harsh winter storms were to blame for economic weakness in the December-February period.

"Incoming data continue to be constrained by adverse weather," Nomura said in a client report.

"The impact in January appears to have been particularly large, with somewhat more moderate effects in February. We expect fundamental support for growth to gradually show through in coming months."

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