Stocks Opened Higher to Kick Off October

U.S. stocks opened slightly higher on Tuesday, kicking off the final quarter of 2019 on a positive note, as investors weigh fresh economic reports and Federal Reserve speakers. The Dow Jones Industrial Average lately rose 103.79 points, or 0.39%, to 27,020.62. The S&P 500 gained 12.71 points, or 0.43%, to 2,989.45. The Nasdaq Composite advanced 45.47 points, or 0.57%, to 8,044.81.

Crude-oil futures headed higher on Tuesday to start the month and third quarter, amid reports off weakening output in September from some of the world’s largest oil producers. West Texas Intermediate crude for November delivery gained 64 cents, or 1.2%, at $54.71 a barrel. November Brent crude was advancing 67 cents, or 1.1% to trade at $59.92 a barrel.

A number of other Fed speakers are on deck Tuesday, including Fed Gov. Richard Clarida at 8:50 a.m. Eastern Time in Washington, St. Louis Fed President James Bullard and Fed Gov. Michelle Bowman are due to speak after 9 a.m. in St. Louis, Missouri.

On the data front, closely followed reports on manufacturing are due, with the Institute for Supply Management’s Manufacturing index coming at 10 a.m. and the purchasing managers’ manufacturing index, or PMIs due at 9:45 a.m.