Stocks Opened Higher, Eyed on Earnings

U.S. stocks opened higher on Tuesday, with the Nasdaq and Dow hitting record highs, as investors turned their focus to the third-quarter earnings season. The Dow Jones Industrial Average lately rose 82.90 points, or 0.36%, to 22,843.97. The S&P 500 gained 9.63 points, or 0.38%, to 2,554.36. The Nasdaq Composite added 22.95 points, or 0.35%, to 6,602.68.

Crude-oil prices traded higher on Tuesday as Saudi Arabia said it would reduce its monthly crude exports next month as OPEC’s swing producer attempts to tackle a global glut of oil. West Texas Intermediate crude for November delivery gained 63 cents, or 1.3%, to $50.21 a barrel. December Brent crude advanced 55 cents, or 1%, at $56.34 a barrel.

Wal-Mart Stores Inc on Tuesday forecast U.S. online sales to increase by about 40 percent and overall net sales by at least 3 percent in the fiscal year ending January 2019. The retailer, which will hold its investor meeting on Tuesday, also said it would buy back $20 billion of its shares over two years.