US stocks open higher as crude oil price recovers

AP News
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Posted: Jan 13, 2016 9:41 AM
US stocks open higher as crude oil price recovers

U.S. stocks are opening higher, led by gains in oil and gas companies as the price of crude turns higher.

There was also some better news out of China Wednesday as the government there reported that trade shrank at a lower rate.

MetLife jumped 7 percent after the company said it plans to sell or spin off a large part of its life insurance business.

General Motors rose 3 percent after the company raised its dividend and added to its stock repurchase program.

The Dow Jones industrial average rose 53 points, or 0.3 percent, to 16,559 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index climbed nine points, or 0.6 percent, to 1,947. The Nasdaq composite rose 23 points, or 0.5 percent, to 4,710.