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3/9/2016, 3:33 PM (Source: TeleTrader)
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U.S. markets open up nearly 0.5% as oil prices rise

Stock markets in the United States opened higher after closing down on Wednesday. Oil prices were rising well over 2% in another round of hope that OPEC members would freeze production in January levels. Investors were also trying to feel the pulse of the European Central Bank, as its monetary policy meeting starts on Thursday.

The Dow Jones Industrial Average inched up 0.24% to 17,013 points at the open.

The S&P 500 index opened 0.32% higher at 1,985 points.

The tech-laden Nasdaq 100 index added 0.38 at 4,281 points.

The wider Nasdaq Composite index edged up 0.41% at 4,668 points.

The U.S. light sweet crude WTI traded up 2.05% at $40.27 a barrel, while the international benchmark Brent rose 2.40% to $40.53 at 3:21 p.m. CET (9:21 a.m. EST). The Organization of the Petroleum Exporting Countries reported the OPEC daily basket price of 13 crudes at $35.07 a barrel on Tuesday, compared with $34.43 the previous day.

The U.S. dollar was 0.50% stronger compared to the euro, 0.55% against the Swiss franc, and was up 0.15% versus the Japanese yen. The greenback weakened 0.10% against the U.K. pound, all at 3:32 p.m. CET (4:32 a.m. EST)

Gold traded 1.24% cheaper at $1,247.90 per fine ounce at 3:33 p.m. CET (9:33 a.m. EST).

 

Image: Beta/AP

Breaking the News / ZR