Stocks Opened Higher, Dow Hit 19000

U.S. stocks opened higher on Tuesday, with the Dow trading above 19,000 for the first time. The Dow Jones Industrial Average lately added 40.51 points, or 0.21%, to 18,997.20. The S&P 500 gained 4.54 points, or 0.21%, to 2,202.72. The Nasdaq Composite was up 20.83 points, or 0.39%, at 5,389.69.

Oil prices rose for a third straight session Tuesday on growing confidence that OPEC will deliver a promised production cut next week. Brent Crude futures for delivery in January traded 1.8% higher at $50.62 while West Texas Intermediate futures for delivery in January added 1.6% to change hands at $49.04 by 10:30 GMT.

Dollar Tree, which acquired Family Dollar last year to become the biggest dollar store chain in the U.S., reported better-than-expected quarterly earnings and lifted its guidance on Tuesday. The discount store chain said that during the third quarter, net income rose to $171.6 million, or 72 cents per share, compared to $81.9 million, or 35 cents per share, a year earlier.

U.S. auto safety regulators are allowing General Motors to delay a large recall of potentially defective air bags, giving the company time to prove that the devices are safe and to possibly avoid a huge financial hit.