Stocks Opened Slightly Higher after S&P 500’s Record Close

U.S. stocks opened slightly higher on Wednesday, after the S&P 500 notched its first record close since Feb. 19 on Tuesday. The Dow Jones Industrial Average lately picked up 24.69 points, or 0.09%, to 27,802.76. The S&P 500 rose 1.72 points, or 0.05%, to 3,391.50. The Nasdaq Composite fell 14.26 points, or 0.13%, to 11,196.58.

Oil futures lost ground Wednesday, after an industry trade group reported a rise in U.S. gasoline inventories. West Texas Intermediate crude for September delivery was down 42 cents, or 1%, at $42.70 a barrel, while October Brent crude fell 43 cents, or 1%, to $45.03 a barrel.

Target Corp. reported a record-setting second-quarter early Wednesday. Net income totaled $1.69 billion, or a record $3.35 per share, up from $938 million, or $1.82 last year. Adjusted EPS totaled $3.38 per share. Revenue totaled $22.98 billion, up from $18.42 billion last year.

Lowe’s (LOW) reported estimates-topping second-quarter sales and profit. Lowe’s second-quarter adjusted earnings per share of $3.75 were better than the $2.90 expected, and revenue of $27.3 billion topped estimates for $24.15 billion.