US STOCKS-Wall St rises as Scots stay in UK, Alibaba debuts
(Updates prices, adds comment)
* Indexes up: Dow 0.32 pct, S&P 0.26 pct, Nasdaq 0.26 pct
By Rodrigo Campos
NEW YORK, Sept 19 (Reuters) - U.S. stocks were rising in early trading on Friday, setting record highs on the Dow and S&P 500 after Scotland's vote to remain in the United Kingdom removed market uncertainty and Alibaba's strong pricing gave support to risk assets.
Unionists' victory in Scotland's vote kept it in the United Kingdom and gave a boost to European stocks, while sterling rose against the euro and the U.S. dollar.
"Disarray in the UK would have had a negative effect, further strengthening the dollar and weakening the commodities complex," said Art Hogan, chief market strategist at Wunderlich Securities in New York.
Regarding Alibaba, Hogan said, "a large, hyped IPO that has gone successfully has a large, positive halo effect on the market."
Alibaba priced its initial public offering at $68 a share, the top end of the expected range, and early indications showed the stock could start trading between $84 and $87.
Shares of Yahoo, which is selling part of its Alibaba stake but will remain a top shareholder, were gaining 1.5 percent at $42.71. Continuación...