Stocks Opened Higher, Apple Hit All-time High

U.S. stocks opened solidly higher on Wednesday after a batch of corporate earnings results came in stronger than expected. The Dow Jones Industrial Average lately climbed 171.61 points, or 0.60%, to 28,894.46. The S&P 500 was up 15.16 points, or 0.46%, to 3,291.40. The Nasdaq Composite advanced 56.86 points, or 0.61%, to 9,326.54.

Oil futures traded higher Wednesday, after a trade group reported a fall in U.S. inventories last week. West Texas Intermediate crude for March delivery rose 32 cents, or 0.6%, to $53.80 a barrel, while April Brent crude was up 38 cents, or 0.6%, at $59.19 a barrel.

Shares of Apple (AAPL) were among the big advancers, with the stock up nearly 3% around market open to an all-time high. The tech giant reported earnings results Tuesday afternoon that topped consensus estimates, driven by a jump in iPhone revenue on the heels of a strong holiday purchasing season. The company reported $4.99 a share for the quarter on revenue of $91.82 billion.