US stocks trade higher

New York, June 9 (IANS) US stocks traded mostly higher as investors shifted their focus from a possible interest rate hike to gains in oil prices.

The Dow Jones Industrial Average rose 30.51 points, or 0.17 per cent, to 17,968.79 on Wednesday, Xinhua news agency reported.

The S&P 500 gained 1.85 points, or 0. 09 percent, to 2,113.98. The Nasdaq Composite Index ticked up 1.15 points, or 0.02 percent, to 4,962.90.

Oil prices extended recent gains to trade nearly 1 per cent higher on Wednesday. Both Brent and WTI held strong above $50 a barrel in early session, helped by a larger-than-expected US crude stockpile draw.

US stocks closed mixed on Tuesday, as Wall Street continued to assess US Federal Reserve Chair Janet Yellen’s speech on the US economy.

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