Stocks open higher on brighter economic reports

NEW YORK (AP) — Stocks are heading higher in early trading after investors received encouraging reports on the economy.

Before the market opened today, the Labor Department reported first-time claims for unemployment benefits dropped for the third time in four weeks.

In a separate report, the government says rising imports pushed the trade deficit wider in the July-September quarter, a sign that Americans are regaining some of their spending appetite. The government also said housing starts rose slightly last month, reversing a two-month trend.

The Dow Jones industrial average is up 16 points, or 0.14, to 11,473. The broader S&P 500 is up 2.5, or 0.20 percent, to 1,237. The Nasdaq composite is up 6.3, or 0.24, to 2,623.