Stocks open higher after string of down days

The stock market is inching higher in early trading following three days of declines.

The Standard & Poor's 500 index is up three points, or 0.2 percent, to 1,933 shortly after the U.S. market opened Friday. The Dow Jones industrial average is higher by 17 points, or 0.1 percent, to 16,752. The Nasdaq is rising 14 points, or 0.4 percent, to 4,312.

Intel jumped 7 percent after the world's largest chipmaker said sales of computers for business have been stronger than expected, and raised its revenue forecast.

Stocks have retreated in recent days after reaching all-time highs to start the week. The market is under pressure from lackluster economic reports and higher oil prices on the back of escalating violence in Iraq that threatens to disrupt crude supplies.