U.S. stocks opened modestly higher on Friday as investors shifted their focus to the Federal Reserve’s policy meeting next week. The Dow Jones Industrial Average lately rose 56.16 points, or 0.27%, to 21,238.69. The S&P 500 added 6.16 points, or 0.25%, to 2,439.95. The Nasdaq Composite gained 5.52 points, or 0.09%, to 6,327.29.
Oil futures edged up on Friday, after rising U.S. stocks raised doubts that production cuts are achieving their goal of draining global inventory.
Brent crude rose 0.3% to $48.00 a barrel. West Texas Intermediate futures were trading up 0.4% at $45.80 a barrel.
U.K. Prime Minister Theresa May is crafting a new government, with Friday’s move taking place after Thursday’s snap general election resulted in a hung parliament in the House of Commons.
Shares of Pandora Media Inc. (P) ran up, after Sirius XM Holdings Inc. (SIRI) said it will make a $480 million cash investment in the internet radio and music streaming company.
Google-owner Alphabet Inc. has agreed to sell robotics firm Boston Dynamics to SoftBank, the Japanese telecommunications and technology company.
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