Stocks are rising after the opening bell as spending cuts by Italy lifted traders’ hopes that Europe was making progress in taming its debt crisis. A tame reading on U.S. inflation sent bond yields lower.
World markets rose Friday after Italy’s lower house of parliament approved an austerity package in hopes of lowering the country’s escalating borrowing costs.
BlackBerry maker Research In Motion Ltd. plunged 12 percent after the company said late Thursday that new phones seen as critical to the company’s future will be delayed until late next year.
The Dow Jones industrial average is up 63 points, or 0.5 percent, at 11,932 shortly after the market opened. The S&P 500 is up 8, or 0.6 percent, at 1,223. The Nasdaq is up 17, or 0.7 percent, at 2,558.