Stocks Opened Slightly Higher ahead of Fed Speakers

U.S. stocks opened marginally higher on Wednesday as Wall Street got a lift from higher crude-oil futures and awaited comments from expected Federal Reserve speakers later in the day. The Dow Jones Industrial Average lately rose 41.57 points, or 0.23%, to 18,269.87. The S&P 500 advanced 2.17 points, or 0.10%, to 2,162.10. The Nasdaq Composite picked up 4.49 points, or 0.08%, to 5,310.20.

Oil futures gained Wednesday, supported by potential production caps by OPEC in November and ahead of a possible decline in U.S. stock levels. The November contract for global crude benchmark Brent was up 1.3% at $47.13 a barrel, while its U.S. counterpart West Texas Intermediate gained 1.1% trade at $45.18 a barrel.

Orders for durable or long-lasting goods flattened out in August after a sizable gain in the prior month, pointing to ongoing difficulties for American manufacturers. Stripping out transportation, orders sagged 0.4%, the Commerce Department said Wednesday.

BlackBerry Ltd will outsource the development and design of its flagship smartphone, an industry it helped pioneer, as it bets its future on software and services, the Canadian technology company said on Wednesday.

Wells Fargo & Co. Chairman and Chief Executive John Stumpf will forfeit $41 million for the bank’s burgeoning sales scandal, marking one of the biggest rebukes to the head of a major U.S. financial institution.