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US stocks rise on Alibaba, Scotland vote

New York - US stocks pushed higher in opening trade Friday as the market readied for trading of shares of China e-commerce giant Alibaba, the largest IPO ever in the United States and potentially the world.

Traders also showed relief over Scotland's vote against leaving the United Kingdom.

Five minutes into trade, the Dow Jones Industrial Average rose 75.46 points (0.44%) to 17 341.45 , while the broad-based S&P 500 added 7.14 (0.35%) at 2 018.50. Both indices notched records on Thursday.

The tech-rich Nasdaq Composite Index gained 12.66 (0.28%) to 4 606.09.

Sentiment was enthusiastic as shares of Chinese online retail giant Alibaba priced at $68, the top of the range outlined in its securities filings. The initial public offering could raise as much as $25bn, which would be a record for markets anywhere.

Scottish voters rejected a referendum to exit the centuries-old United Kingdom after the "no" campaign garnered 55.3% of the vote against 44.7% for the pro-independence camp.

British business interests lauded the decision after the prospect of a Scottish departure raised difficult questions about how Scotland would leave the union and its currency system.

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