Opening Bell: Stocks Rise as Investors Await Brexit Vote; Macy’s CEO to Step Down

U.S. stocks opened higher on Thursday, as the markets anxiously awaited a critical referendum on whether the UK will remain in the European Union. Meanwhile, Macy's (M) - Get Report CEO Terry Lundgren will step down in early 2017. Current president Jeff Gennette will replace Lundgren. Meanwhile, weekly jobless claims fell by 18,000 to 259,000 last week, hitting an eight week low. Finally, Tesla (TSLA) - Get Report shares were downgraded by Morgan Stanley to equal weight from over weight and cut the automaker's price target to $245 from $333, citing short-term concerns over Tesla's proposed acquisition of SolarCity (SCTY) . Tesla trades near $197 a share. TheStreet's Scott Gamm reports from Wall Street.