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US stocks open higher

US stocks open higher

Stocks are sharply higher in early trading as oil retreats from this week's rally and as speculation grows that Lehman Brothers Holdings Inc. may be sold.
Worries about the embattled Lehman have re-emerged this week as analysts lowered their estimates for the investment bank and forecast that it would have to take additional write-downs. But a bullish analyst call Thursday, saying the company could be a hostile takeover candidate, and a report Friday that Korea Development Bank is considering buying Lehman have reassured investors.
Meanwhile, oil is down $1.82 at $119.36 a barrel after shooting up more than $5 on Thursday.
The Dow Jones industrial average is up 92 at the 11,523 level.


Updated : 2021-04-13 21:34 GMT+08:00