Stocks open higher after durable goods report

Stocks are higher in early trading after the government said orders for big-ticket items rose in June at the fastest pace in four months.

The Commerce Department says orders for durable goods rose 0.8 percent last month, far better than the 0.4 percent decline economists expected. The reading seems to be easing some of the market's concerns after a big sell-off Thursday in response to a weak housing report and worries about the financial sector.

The Dow Jones Industrial average is up 35 at the 11,384 level. The Dow fell more than 280 points Thursday.