Stocks Opened Higher after Italy-fueled Rout

U.S. stocks opened higher on Wednesday, rebounding from a steep selloff in the previous session on worries about a political crisis in Italy.  The Dow Jones Industrial Average lately rose 143.33 points, or 0.59%, to 24,504.78. The S&P 500 gained 16.57 points, or 0.62%, to 2,706.43. The Nasdaq Composite added 42.05 points, or 0.57%, to 7,438.64.

Crude-oil prices traded slightly higher early Wednesday, as investors shake off concerns about climbing supplies. West Texas Intermediate crude oil for July delivery ticked up by 18 cents, or less than 0.3%, to $66.91 a barrel. July Brent tacked on 43 cents, or 0.6%, to $75.92 a barrel.

The U.S. added 178,000 private-sector jobs in May, payrolls processor ADP said Wednesday. April’s figure, meanwhile, was revised downward by 41,000 to 163,000.

he U.S. economy grew a touch softer in the first quarter than originally reported, mainly because of a slower buildup in inventories. Gross domestic product was trimmed to an annual 2.2% pace from 2.3%.