Stocks Opened Higher, Oil Futures Rebounded

U.S. stocks opened higher on Wednesday as investors focused on signs of easing tensions in Hong Kong, new stimulus measures out of China and growing hopes that the U.K. could avoid a disorderly exit from the European Union. The Dow Jones Industrial Average lately rose 184.83 points, or 0.71%, to 26,302.85. The S&P 500 climbed 23.17 points, or 0.80%, to 2,929.44. The Nasdaq Composite gained 82.23 points, or 1.04%, to 7,956.39.

Oil futures rebounded Wednesday morning, as investors focused on a geopolitical optimism and forecasts for shrinking U.S. supplies ahead of more closely followed weekly inventory reports. West Texas Intermediate crude for October delivery gained 89 cents, or 1.7%, to $54.82 a barrel. November Brent crude rose 80 cents, or 1.4%, to $59.06 a barrel.

Starbucks Corp said on Wednesday it expects 2020 profit growth to be lower than the current 10% rate, two months after the coffeehouse chain raised its 2019 profit forecast.