US stocks open slightly higher; Crude oil price recovers after long decline

NEW YORK, N.Y. – U.S. stocks are opening slightly higher as traders digest the latest economic news.

Payroll processer ADP reported early Wednesday that private U.S. businesses hired at a solid pace last month. That’s an encouraging sign ahead of the government’s broader jobs survey coming out on Friday.

The Standard & Poor’s 500 index rose two points, or 0.1 per cent, to 2,069 as of 9:35 a.m. The Nasdaq composite rose nine points, or 0.2 per cent, to 4,765. The Dow Jones industrial average was the exception, giving up eight points to 17,871.

Oil prices turned slightly higher. The price of U.S. benchmark crude rose 47 cents to $67.35 a barrel in New York.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.30 per cent.