US stocks rise on new European budgetary pact

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U.S. stock indexes are opening higher after 26 European nations agreed to consider tying their economies more closely in hopes of preventing another debt crisis.

All 17 nations that use the euro will sign a treaty that allows a central European authority closer oversight of their budgets. Nine other EU nations are considering it. Britain is the sole holdout.

The Dow Jones industrial average is up 67 points, or 0.6 percent, at 12,064 shortly after the market opened Friday. DuPont limited the Dow’s gains, falling more than 6 percent after the company said it expects earnings this year will fall well short of Wall Street’s expectations.

The S&P 500 is up 7 points, or 0.6 percent, at 1,241. The Nasdaq is up 13, or 0.5 percent at 2,609.