Stocks Little Changed at Open, Oil Prices Gained

U.S. stocks were little changed at open on Wednesday after China announced it would be suspending additional tariffs on some American imports. The Dow Jones Industrial Average lately rose 66.80 points, or 0.25%, to 26,976.23. The S&P 500 was up 6.78 points, or 0.23%, to 2,986.17. The Nasdaq Composite advanced 32.02 points, or 0.40%, to 8,116.18.

Oil futures gained ground Wednesday, boosted after an industry trade group signaled a fall in U.S. crude inventories as traders await official data. West Texas Intermediate crude for October delivery rose 69 cents, or 1.2%, to $58.09 a barrel, while November Brent crude gained 56 cents, or 0.9%, to $62.94 a barrel.

China’s Finance Ministry said Wednesday it would waive tariffs on 16 U.S. product categories from September 17 through September 16, 2020. The products on the exempt list include certain livestock feed and cancer drugs.

Apple (AAPL) unveiled a new line of smartphones, upgrades to its Watch, iPad and AirPods and the pricing and launch dates for its video and gaming subscription services on Tuesday.