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Market Update

US stocks open higher and are headed for a weekly gain; Monster Beverage soars on Coke stake

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FILE - This Aug. 9, 2011 file photo shows a Wall Street street sign near the New York Stock Exchange, in New York. Global stock markets mostly rose Friday, Aug. 15, 2014 cheered by the prospect of more gains on Wall Street and a sense that Ukraine tensions are easing. (AP Photo/Mark Lennihan, File) (The Associated Press)

U.S. stocks are opening higher as the market heads for a solid weekly gain.

The Dow Jones industrial average rose 44 points, or 0.3 percent, to 16,756 as of 9:33 a.m. Eastern time Friday. The Dow is up 1 percent so far this week.

The Standard & Poor's 500 index rose six points, or 0.3 percent, to 1,961.

The Nasdaq composite climbed 26 points, or 0.6 percent, to 4,479.

In corporate news, J.C. Penney rose 4 percent. The struggling department store operator reported a narrower loss for its second quarter.

Monster Beverage soared 26 percent on news that Coca-Cola is buying a big stake in the company.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.39 percent, near its lowest level of the year.