sustaining expansion. It seems to validate the bull story. There is upward momentum in the market." Another positive was the University of Michigan's final reading of its December index of consumer sentiment, which rose to 97.1, according to a report released on Friday and seen by market sources -- higher than previously expected. However, consumer spending edged up a slim 0.2 percent in November, as purchases of new cars dropped sharply, a government report said. Meanwhile, initial claims for U.S. jobless benefits rose to 333,000 last week -- exceeding Wall Street economists' forecast for 330,000 claims. The slightly higher open comes a day after Wall Street's "Santa rally" pushed the S&P 500 Index to its highest close since August 2001, while the blue chip Dow Jones industrial average ended at a 3-1/2-year high for the second consecutive day. In a seasonal bounce, U.S. stocks typically rally during the last five days of the year and the first two in January. --More 1958 Local Time 1658 GMT
