U.S. stocks opened higher on Wednesday, as the financials, materials and energy sectors led gains. The Dow Jones Industrial Average lately added 232.81 points, or 0.84%, to 27,919.72. The S&P 500 rose 30.78 points, or 0.92%, to 3,364.47. The Nasdaq Composite gained 119.77 points, or 1.11%, to 10,902.60.
Oil futures traded higher Wednesday, buoyed after an industry trade group reported a fall in U.S. crude supplies. West Texas Intermediate crude for September delivery gained 68 cents, or 1.7%, to reach $42.29 a barrel. October Brent crude traded 67 cents, or 1.5%, higher at $45.17 a barrel.
U.S. consumer prices increased more than expected in July. The Labor Department said on Wednesday its consumer price index rose 0.6% last month after rebounding 0.6% in June.
Moderna (MRNA) announced a deal to supply the US government with 100 million doses of its Covid-19 vaccine candidate currently in late-stage human trials.
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