NEW YORK (CNNMoney)
After two consecutive down days and a shaky week overall, the Dow, the S&P 500 and Nasdaq opened higher.
Helping lift the mood: better news on the U.S. economy. Consumer spending rose 0.3% in February, the biggest gain in three months. Personal income also gained 0.3% last month.
Economist Peter Cardillo of Rockwell Global Capital also pointed to positive signs overseas, "There seems to be increasing hope that the European Central Bank next week will take action because deflation risks continue to increase in the eurozone."
Related: Russia looks to Asia for trade cushion
Shares of Blackberry (BBRY) are surging, after the mobile device maker reported a narrower-than-expected loss for its fiscal fourth quarter. New CEO John Chen is trying to reverse the company's fortunes, and said in a statement that BlackBerry is "on sounder financial footing today with a path to returning to growth and profitability.".
Blackberry has been recovering since the start of the year on hopes the company's CEO can revive the struggling smartphone maker. However, shares have declined over the past few days as investors worry about the company's turnaround plans and Societe Generale (SCGLF) downgraded the stock to "sell".
Shares of Restoration Hardware (RH)are climbing after the furniture goods seller reported better than expected fourth quarter earnings.
Investors will be watching the stock of CBS Outdoor Americas (CBSO). The outdoor advertising arm of CBS Corp. (CBS, Fortune 500) begins trading on the New York Stock Exchange today. The initial public offering was priced last night at $28 a share valuing the company at more than $3 billion. It's another test for the value of "old media".
Also on the radar, Wal-Mart (WMT, Fortune 500) has sued Visa (V, Fortune 500) for $5 billion in a price fixing case related to credit card swipe fees. Retailers and credit card companies have been fighting over these fees for years, but this latest move comes with a potentially hefty price tag.
Banks, especially Citigroup (C, Fortune 500), were among the biggest losers Thursday, but Citigroup edged up slightly in early trading. The Fed said Citi failed its stress test, but for "qualitative" reasons.
The first three months of 2014 have been bumpy, and it's possible all the major indexes could end the quarter in the red. The Dow Jones industrial average has declined by more than 1% since the start of the year. The S&P 500 is up just around 0.7% and the Nasdaq is essentially flat over the same period.
Related: Fear & Greed Index continues backslide into fear
European markets were up, and most Asian markets closed out the trading day with gains, though the Shanghai Composite dipped by 0.2%.
First Published: March 28, 2014: 9:51 AM ET
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