Markets Right Now: Stocks open higher on Wall Street

Stocks are opening higher on Wall Street as traders were encouraged by talk of more deals and some better news on retail earnings.

European stock markets are posting losses as traders take their cue from a disappointing session on Wall Street that had its roots in concerns over the state of retail spending in the U.S.

Michael Hewson, chief market analyst at CMC Markets, says investors appear to be "waking up to the fact that U.S. consumer spending may not be as resilient as first thought."

The FTSE 100 index of leading British shares is 0.6 percent lower at 6,127 ahead of the Bank of England's latest economic forecasts which are to accompany its widely expected decision to keep its main interest rate unchanged at the record low of 0.5 percent.