U.S. stocks open tepidly higher as oil trades above $51
U.S. stocks mostly climbed on Wednesday as Morgan Stanley topped earnings expectations and as crude-oil prices traded above $51 a barrel, lifting sentiment somewhat. The Dow Jones Industrial Average gained 33 points, or 0.2% at 18,195, the S&P 500 index advanced 2 points, or less than 0.1%, at 2,141, while the Nasdaq Composite Index traded little-changed at 5,240. Oil gains came after Saudi Arabia's oil minister, Khalid A. Al-Falih, spoke hopefully about a pact to stabilize prices at a London conference ahead of the Organization of the Petroleum Exporting Countries next month. On the corporate earnings front, Morgan Stanley reported quarterly earnings early Wednesday before the open that beat expectations, as the big Wall Street firm benefited from a trading rebound that has helped some of the country's largest banks.
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