The latest on developments in financial markets (All times local): 9:35 a.m. Stocks are opening broadly higher on Wall Street, erasing modest losses from the day before. Consumer products makers and retailers were among the early winners on Friday. Philip Morris rose 2.2 percent. Several companies were moving on earnings news. Software maker Adobe rose 1 percent and Costco Wholesale jumped 4 percent after each reported strong results. The Standard & Poor's 500 index rose 12 points, or 0.5 percent, to 2,663. The Dow Jones industrials rose 118 points, or 0.5 percent, to 24,625.