Stocks Opened Higher as U.S. Eased Huawei Trade Restrictions

U.S. stocks opened higher on Tuesday, getting a lift after the Commerce Department said it would grant temporary exemptions to an export blacklist against Chinese telecom firm Huawei. The Dow Jones Industrial Average lately advanced 111.04 points, or 0.43%, to 25,790.94. The S&P 500 rose 16.72 points, or 0.59%, to 2,856.95. The Nasdaq Composite gained 58.59 points, or 0.76%, to 7,760.96.

Oil prices gained Tuesday, with U.S.-priced crude trading at its best levels this month. West Texas Intermediate crude for June delivery was up a penny, or less than 0.1%, at $63.11 a barrel. July Brent rose 30 cents, or 0.4%, to $72.27 a barrel.

Late Monday, the Commerce Department announced it would be issuing a temporary license for some U.S. companies to continue working with Huawei and its affiliates, effective immediately and lasting 90 days.