Stocks Moved Higher in Early Trading
-- Thursday, October 11, 2018, 10:03 --
U.S. stocks opened lower and turned higher in the early trading on Thursday, following Wednesday’s global rout. The Dow Jones Industrial Average lately rose 48.80 points, or 0.19%, to 25,647.54. The S&P 500 was up 4.85 points, or 0.17%, to 2,790.53. The Nasdaq Composite gained 55.02 points, or 0.74%, to 7,477.07.
Oil futures remained under pressure Thursday. West Texas Intermediate crude futures for November delivery fell $1.23, or 1.7%, to $71.95 a barrel. Brent crude for December delivery lost $1.35, or 1.6%, to $81.74 a barrel.
Consumer prices edged up a slight 0.1 percent in September as energy prices retreated after a big gain in August. The Labor Department said Thursday that the September gain in its closely watched consumer price index followed a 0.2 percent rise in August.
OPEC sees the oil market as well supplied and is wary of creating a glut next year, the group’s secretary-general said on Thursday, suggesting producers are in no rush to expand a June agreement that raises output.