US stock market opens higher

NEW YORK (AA) - The stock market opened higher on Thursday as investors try to digest the U.S. Federal Reserve's decision to raise rates Wednesday.

The Dow added 39 points to open at 19,832 and the S&P 500 was up two points to 2,255. The Nasdaq increased six points to begin the day at 5,443.

The Federal Reserve increased its benchmark interest rate by 0.25 percent on Wednesday, and said it now expects to increase rates three times in 2017, from the previous projection of two rate hikes.

Increase in estimated number of rate hikes next year shows the Fed's confidence in the American economy, according to experts.

Consumer Price Index, which measures change in price of goods and services for consumers, rose 0.2 percent in November from the previous month, and increased 1.7 percent year-over-year, both in line with market expectations, according to Department of Labor earlier Thursday.