Investing.com - U.S. stocks opened higher on Wednesday, as investors eyed the release of fresh U.S. economic reports later in the week, amid ongoing uncertainty over when the Federal Reserve will begin tapering its stimulus program.
During early U.S. trade, the Dow Jones Industrial Average gained 0.42%, the S&P 500 index rose 0.31%, while the Nasdaq Composite index edged up 0.09%.
Data on Tuesday showing that service sector activity in the U.S. grew at a faster than expected pace in October supported the view that the Federal Reserve could start scaling back stimulus as soon as next month.
But investors remained cautious after comments by Fed officials on Monday indicated that the bank is likely to keep its stimulus program in place for some time to come.
Federal Reserve Bank of Boston President Eric Rosengren said bank should keep its asset purchase program in place until there is "compelling evidence of a sustainable recovery making satisfactory progress toward full employment."
Apple shares added 0.14% after the tech giant said it received as many as 5,542 information requests from U.S. law enforcement agencies in the first half of 2013.
In the financial sector, Wells Fargo was up 0.35% despite reports it is among firms facing federal scrutiny of mortgage-bond sales under a 1989 law the government is using to extend probes of banks’ roles in the credit crisis.
Among earnings, Abercrombie & Fitch reported fiscal third-quarter sales below analysts’ estimates, sending shares down 4.33%.
Telsa Motors shares dove 10.25% after the electric-car maker reported late Tuesday a lower-than-expected quarterly profit.
Ralph Lauren surged 4.56% after raising the low end of its full-year sales outlook on expectations of strong gains during the holiday season.
Qualcomm, Activision Blizzard, CBS and WholeFoods were also scheduled to report quarterly earnings later in the day.
Other companies expected to be in focus included Twitter's, which was set to announce its highly-anticipated initial public offering after the closing bell.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 advanced 0.74%, France’s CAC 40 declined 0.87%, Germany's DAX retreated 0.45%, while Britain's FTSE 100 dipped 0.04%.
During the Asian trading session, Hong Kong's Hang Seng Index dipped 0.01%, while Japan’s Nikkei 225 Index advanced 0.79%.
During early U.S. trade, the Dow Jones Industrial Average gained 0.42%, the S&P 500 index rose 0.31%, while the Nasdaq Composite index edged up 0.09%.
Data on Tuesday showing that service sector activity in the U.S. grew at a faster than expected pace in October supported the view that the Federal Reserve could start scaling back stimulus as soon as next month.
But investors remained cautious after comments by Fed officials on Monday indicated that the bank is likely to keep its stimulus program in place for some time to come.
Federal Reserve Bank of Boston President Eric Rosengren said bank should keep its asset purchase program in place until there is "compelling evidence of a sustainable recovery making satisfactory progress toward full employment."
Apple shares added 0.14% after the tech giant said it received as many as 5,542 information requests from U.S. law enforcement agencies in the first half of 2013.
In the financial sector, Wells Fargo was up 0.35% despite reports it is among firms facing federal scrutiny of mortgage-bond sales under a 1989 law the government is using to extend probes of banks’ roles in the credit crisis.
Among earnings, Abercrombie & Fitch reported fiscal third-quarter sales below analysts’ estimates, sending shares down 4.33%.
Telsa Motors shares dove 10.25% after the electric-car maker reported late Tuesday a lower-than-expected quarterly profit.
Ralph Lauren surged 4.56% after raising the low end of its full-year sales outlook on expectations of strong gains during the holiday season.
Qualcomm, Activision Blizzard, CBS and WholeFoods were also scheduled to report quarterly earnings later in the day.
Other companies expected to be in focus included Twitter's, which was set to announce its highly-anticipated initial public offering after the closing bell.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 advanced 0.74%, France’s CAC 40 declined 0.87%, Germany's DAX retreated 0.45%, while Britain's FTSE 100 dipped 0.04%.
During the Asian trading session, Hong Kong's Hang Seng Index dipped 0.01%, while Japan’s Nikkei 225 Index advanced 0.79%.