Stocks Opened Lower, then Bounced Higher

U.S. stocks opened lower but turned higher within minutes on Wednesday, as choppy trade resumes on Wall Street. The Dow Jones Industrial Average lately rose 99.34 points, or 0.40%, to 25,012.11. The S&P 500 gained 8.05 points, or 0.30%, to 2,686.92. The Nasdaq Composite was down 3.50 points, or 0.05%, to 7,112.38.

Oil prices were broadly steady on Wednesday, as the boost from a report showing a drop in U.S. crude inventories last week was offset by evidence of soaring U.S. output. Brent crude futures were down 2 cents at $66.84 a barrel by 1135 GMT, while U.S. West Texas Intermediate crude futures <CLc1> eased 18 cents to $63.21 a barrel.

The U.S. solar industry lost nearly 10,000 jobs last year, led by steep losses in mature markets like California and Massachusetts where installation growth has slowed, according to a new report published on Wednesday.

Biotech billionaire Patrick Soon-Shiong has agreed to purchase the Los Angeles Times from its parent company Tronc, restoring local ownership and perhaps ending a turbulent period for the storied 136-year-old institution.