U.S. stocks opened higher on Wednesday as investors focused on signs of easing tensions in Hong Kong, new stimulus measures out of China and growing hopes that the U.K. could avoid a disorderly exit from the European Union. The Dow Jones Industrial Average lately rose 184.83 points, or 0.71%, to 26,302.85. The S&P 500 climbed 23.17 points, or 0.80%, to 2,929.44. The Nasdaq Composite gained 82.23 points, or 1.04%, to 7,956.39.
Oil futures rebounded Wednesday morning, as investors focused on a geopolitical optimism and forecasts for shrinking U.S. supplies ahead of more closely followed weekly inventory reports. West Texas Intermediate crude for October delivery gained 89 cents, or 1.7%, to $54.82 a barrel. November Brent crude rose 80 cents, or 1.4%, to $59.06 a barrel.
Starbucks Corp said on Wednesday it expects 2020 profit growth to be lower than the current 10% rate, two months after the coffeehouse chain raised its 2019 profit forecast.
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