Stock Opened Higher, Oil Prices Bounced Back

U.S. stocks opened higher on Tuesday, putting the Nasdaq within striking distance of a record. The Dow Jones Industrial Average lately gained 39.13 points, or 0.19%, to 20,944.99. The S&P 500 rose 4.92 points, or 0.21%, to 2,378.39. The Nasdaq Composite advanced 18.00 points, or 0.31%, to 5,919.53.

Crude oil prices bounced back on Tuesday from hitting roughly one-week lows to start the week as cautious optimism for an extended production-cut agreement percolated in the market. April West Texas Intermediate crude rose 32 cents, or 0.7%, to $48.54 a barrel. May Brent crude rose 40 cents, or 0.8%, to $52.02 a barrel.

General Mills Inc. (GIS), the branded consumer foods company, reported a fiscal third-quarter profit that beat expectations but sales that fell a bit short. Net earnings for the quarter to Feb. 26 came to $357.8 million, or 61 cents a share, compared with $361.7 million, or 59 cents a share, in the same period a year ago. Revenue declined 5.2% to $3.79 billion from $4.00 billion.

Apple Inc. (AAPL) updated its iPad and iPhone offerings Tuesday, including a new iPad starting at $329 and featuring a brighter 9.7-inch Retina display.