Stocks Rallied at Open, Oil Prices Ticked Higher

U.S. stocks opened solidly higher on Wednesday, as the three main benchmarks attempted to rebound from the worst start to a Thanksgiving week in decades. The Dow Jones Industrial Average lately rose 105.32 points, or 0.43%, to 24,570.96. The S&P 500 gained 14.34 points, or 0.54%, to 2,656.23. The Nasdaq Composite advanced 61.98 points, or 0.90%, to 6,970.81.

Oil prices ticked higher Wednesday, with gains following a surprise inventory drawdown in U.S. data out late Tuesday. January West Texas Intermediate crude rose $1.05, or nearly 2%, to $54.48 a barrel. January Brent rose $1.17, or 1.9%, to $63.70 a barrel.

After the latest stock-market drubbing, President Donald Trump said Tuesday he’d like the Federal Reserve to cut interest rates.