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Updated from 8:04 a.m. EDT

The U.S. stock market was moving higher at Friday's open as crude oil prices followed the prior day's slide with another decline and the dollar continued to rally.


Dow Jones Industrial Average

was climbing 77 points to 11,693, and the

S&P 500

was adding 8 points to 1301. The


was gaining 17 points to 2471.

Among commodities, crude oil was down $1.58 to $113.43 a barrel, and gold was losing $15 to $799.50 an ounce. Those moves came as the dollar was edging upward against its major foreign competitors.

In the fixed-income arena, longer-dated U.S. Treasuries were gaining ground. The 10-year note was up 9/32 in price to yield 3.85%, and the 30-year was adding 14/32, yielding 4.49%.

On the corporate front, software maker



offered earnings that topped analysts' second-quarter estimates following Thursday's close.

Bond insurers






also received good news, as Standard & Poor's said it would remove the companies' key units from CreditWatch Negative and affirmed its AA ratings.

Goldman Sachs


may be in for a tougher time after JPMorgan Chase cut its third-quarter profit forecast for its fellow investment bank. The firm is now looking for Goldman to earn $2.40 a share in the quarter, well below its previous estimate of $4.

As for earnings,

JC Penney


exceeded analysts' bottom-line expectations for the most recent quarter but offered guidance that fell short of estimates.

More pleasing to Wall Street was fellow retailer



, which beat analyst estimates for the second quarter and raised its full-year outlook.

Illinois Tool Works


, meanwhile, reaffirmed its projections.

Turning to economic data, the New York Empire State Index for August ticked up to 2.8, a vast improvement over negative 4.9 in July and ahead of expectations for a 5-point decline.


Federal Reserve's

measure of July capacity utilization came in at 79.8%, in line with expectations. The June figure was revised down to 78.8% from 79.9%. Industrial production increased 0.2% in July, whereas analysts were projecting no growth for the month. A bit later, the University of Michigan will release its August consumer sentiment survey.

Global exchanges were mixed. The FTSE in London and the DAX in Frankfurt were ticking downward. In Asia, the Nikkei in Japan was rising, while the Hang Seng in Hong Kong took a hit.