Stocks Edged Higher at Open

U.S. stocks edged higher at open on Wednesday, after the latest batch of earnings including Morgan Stanley added to optimism about the U.S. corporate reporting season, while a jump in oil prices lifted energy stocks.The Dow Jones Industrial Average lately rose 14.07 points, or 0.06%, to 24,800.70. The S&P 500 gained 5.79 points, or 0.21%, to 2,712.18. The Nasdaq Composite advanced 3.36 points, or 0.05%, to 7,284.46.

Oil futures rose Wednesday, after the American Petroleum Institute issued bullish U.S. inventory data. May West Texas Intermediate crude edged up by 56 cents, or 0.8%, to $67.08 a barrel. June Brent gained 51 cents, or 0.7%, to $72.09 a barrel.

Morgan Stanley (MS) reported net income applicable to common shareholders rose 40 percent to $2.58 billion in the first quarter ended March 31. On a per-share basis, the company’s earnings rose to $1.45 from $1. Total revenue rose 13.7 percent to $11.08 billion.