US stocks open higher ahead of Fed minutes

Staff Writer
Columbus CEO

Stocks are opening higher as investors wait for the minutes from the Federal Reserve's most recent policy meeting.

Tiffany rose 9 percent after the company said its earnings spiked 50 percent in the first quarter as worldwide sales jumped and the company raised its prices.

The Dow Jones industrial average rose 101 points, or 0.6 percent, to 16,473 in early trading Wednesday.

The Standard & Poor's 500 index rose nine points, or 0.5 percent, to 1,882. The Nasdaq climbed 17 points, or 0.4 percent, to 4,114.

Later Wednesday the Fed will release minutes from its meeting last month. Traders will be watching for clues about how quickly the central bank plans to reduce its economic stimulus.

The yield on the 10-year Treasury note rose to 2.54 percent.