Stocks Opened Higher after Senate Approved New Stimulus Package

U.S. stocks opened higher on Wednesday, after Senate approved another coronavirus relief package worth about $500 billion. The Dow Jones Industrial Averate lately rose 392.38 points, or 1.70%, to 23,411.26. The S&P 500 advanced 47.81 points, or 1.75%, to 2,784.37. The Nasdaq Composite was up 155.58 points, or 1.88%, to 8,418.81.

Oil futures were trading mixed Wednesday, with the energy complex attempting to stabilize itself amid persistent pressure centered on a glut of crude and a dearth of places to put it. West Texas Intermediate crude for June delivery was down 12 cents, or 1% at $11,45 a barrel. June Brent crude was trading up 60 cents, or 3.1%, at $19.94 a barrel.

The U.S. House of Representatives will pass Congress’ latest coronavirus aid bill on Thursday, House Speaker Nancy Pelosi said, paving the way for nearly $500 billion more in economic relief amid the pandemic.