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Market Update

US indexes open higher as traders shrug off a contraction in Japan; Amazon gains, Macy's drops

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FILE - This July 15, 2013 file photo shows a sign for Wall Street outside the New York Stock Exchange, in New York. Global stock markets overcame a contraction in Japan's economy and jitters about Ukraine and Iraq to mostly rise Wednesday, but analysts said new geopolitical developments would likely make for volatile trading. (AP Photo/Mark Lennihan, File) (The Associated Press)

U.S. stocks are opening modestly higher as global markets overcame a contraction in Japan's economy.

Amazon rose 3 percent after the online retailing giant introduced a credit-card processing device designed to help small businesses accept payments through smartphones and tablets.

SeaWorld Entertainment plunged 26 percent after its earnings fell far short of what analysts were expecting. Macy's fell 5 percent after its own results fell short of forecasts.

The Standard & Poor's 500 index rose eight points, or 0.4 percent, to 1,941 in the first few minutes of trading Wednesday.

The Dow Jones industrial average rose 52 points, or 0.3 percent, to 16,613. The Nasdaq composite rose 20 points, or 0.5 percent, to 4,410.

Bond prices barely budged. The yield on the 10-year Treasury note held steady at 2.43 percent.