Stocks Opened Higher, Led by Technology and Media

U.S. stocks opened higher on Wednesday, led by technology and media stocks, after the losses of few sessions due to a rapid escalation in trade tensions between the United States and China. The Dow Jones Industrial Average lately advanced 42.67 points, or 0.17%, to 24,742.88. The S&P 500 rose 7.41 points, or 0.27%, to 2,770.00. The Nasdaq Composite gained 44.61 points, or 0.58%, to 7,770.19.

Oil prices traded slightly higher Wednesday ahead of the much-anticipated OPEC meeting and amid Washington and Beijing’s ongoing trade threats. West Texas Intermediate crude for July delivery added 4 cents, or less than 0.1%, to $65.13 a barrel. August Brent oil was virtually unchanged at $75.10 a barrel.

Dr. Atul Gawande has been named CEO of the healthcare company started by Berkshire Hathaway (BRK-A, BRK-B), Amazon (AMZN), and JP Morgan (JPM) in an effort to push down healthcare costs. Gawande will begin his role at the new company, which will be headquartered in Boston, on July 9.

21st Century Fox Inc. accepted a sweetened, $71.3 billion bid from Walt Disney Co. for its entertainment assets, outbidding Comcast Corp. in a battle for one of the media industry’s biggest prizes.

General Electric Co. (GE) slide 1.1% in early trade Wednesday, a day after the company was pushed out of the Dow Jones Industrial Average after being a member for 111 years. GE is being replaced by Walgreens Boots Alliance Inc.