Stocks Opened Higher as Bank Shares Gained

U.S. stocks opened higher on Thursday, aided by gains in bank shares and on news that the Republicans’ tax overhaul plan was headed for final votes in Congress before the year-end. The Dow Jones Industrial Average lately climbed 49.86 points, or 0.20%, to 24,635.29. The S&P 500 rose 2.57 points, or 0.10%, to 2,665.42. The Nasdaq Composite added 11.04 points, or 0.16%, to 6,886.84.

Oil prices erased earlier gains and dipped lower on Thursday after the International Energy Agency said global oil supply has jumped to a one-year high. West Texas Intermediate crude for January delivery traded 3 cents, or 0.1%, lower at $56.57 a barrel. Brent oil for February was up 4 cents, or 0.1%, at $62.48 a barrel.

Walt Disney Co. said Thursday it would buy selected assets of 21st Century Fox for $52.4 billion in stock. Disney’s acquisition includes the company’s Twentieth Century Fox film and television studio and its international and cable TV businesses. In the deal Disney will also assume about $13.7 billion of debt of 21st Century Fox.

Target Corp. agreed to purchase grocery-delivery startup Shipt Inc. for $550 million, stepping up its challenge to Amazon.com Inc. by speeding the rollout of same-day shipping.