US stocks rise on strong consumer spending

New York - Wall Street stocks opened higher on Thursday following a strong report on US consumer spending even as talks in Brussels to avert a Greek debt default remained stalled.

Seven minutes into trade, the Dow Jones Industrial Average was at 18 027.49, up 0.34%.

The broad-based S&P 500 gained 0.27% at 2 114.36, while the tech-rich Nasdaq Composite Index advanced 0.30% to 5 137.91.

Consumer spending, the main driver of the economy, jumped a stronger-than-expected 0.9% in May, the sharpest growth since August 2009, according to Commerce Department data.

There was still no bailout deal following emergency talks between Greece and creditors early Thursday. German finance minister Wolfgang Schaeuble said the Greeks "have rather made steps backward."

Talks continue later Thursday in Brussels ahead of Greece's June 30 debt payment deadline of €1.5bn to the International Monetary Fund.