US stocks up as Apple gains on strong iPhone sales

New York - US stocks rose early on Thursday helped by Apple's jump on reports that its newest iPhones have sold out in some places even before they arrive at stores.

Apple climbed 2.6%, its fourth straight increase, as reports continue to point to strong demand for the new iPhone 7, which are due in stores on Friday.

US data was mixed, with August retail sales falling 0.3% from the July level. The producer price index was unchanged from July.

About 25 minutes into trade, the Dow Jones Industrial Average stood at 18 064.16, up 0.1%.

The broad-based S&P 500 rose 0.1% to 2 128.79, while the tech-rich Nasdaq Composite Index advanced 0.3% to 5 189.52.

Wells Fargo dropped 1.8% following reports that federal prosecutors have begun a probe into the bank's bogus accounts scandal. The bank was fined $185m for opening more than two million deposit and credit card accounts without customer authorization.

Goodyear Tire & Rubber jumped 4.0% as it lifted its dividend by 43% to 10 cents per share as it confirmed its 2016 financial targets.