Stocks Opened Higher, Led by a Rally in Technology

U.S. stocks opened higher on Wednesday, with a rally in technology putting the Nasdaq Composite on pace to another record high.
The Dow Jones Industrial Average lately rose 105.82 points, or 0.43%, to 24,905.80. The S&P 500 added +5.61 points, or 0.20%, to 2,754.41. The Nasdaq Composite gained 12.38 points, or 0.16%, to 7,650.24.

Oil prices moved a leg higher on Wednesday, after reports Venezuela may not deliver some of its contracted crude oil exports amid political upheaval. West Texas Intermediate crude for July rose 11 cents, or 0.2%, to $65.62 a barrel. August Brent crude added 52 cents, or 0.7%, to $75.90 a barrel.

Record exports shaved the U.S. trade deficit in April for the second straight month. The Commerce Department said Wednesday that the trade deficit dropped to $46.2 billion in April, down from $47.2 billion in March and lowest since September.