Stocks Opened at Records, Dollar Slid

U.S. stocks opened higher on Wednesday , getting a boost from the dollar’s decline, amid a rush of corporate earnings, including results from General Electric Co. (GE). The Dow Jones Industrial Average lately advanced 136.50 points, or 0.52%, to 26,347.31. The S&P 500 rose 9.30 points, or 0.33%, to 2,848.43. The Nasdaq Composite gained 9.32 points, or 0.12%, to 7,469.61.

Benchmark Brent crude oil prices eased on Wednesday, pressured by a rise in U.S. crude and gasoline inventories, but remained close to three-year highs. Brent futures fell 10 cents to $69.86 a barrel by 1330 GMT. U.S. West Texas Intermediate (WTI) futures were up 17 cents at $64.64.

The U.S. dollar hit new lows on Wednesday after U.S. Treasury Secretary Steven Mnuchin said he welcomed its weakness and figures showed that the euro zone economy started the year at its strongest pace in over a decade.

General Electric Co. (GE) reported a surprise fourth-quarter loss and missed revenue expectations. The net loss for the quarter was $9.83 billion, or $1.13 a share, compared with a profit of $3.49 billion, or 39 cents a share, in the same period a year ago. Total revenue fell 5% to $31.40 billion.