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U.S. stocks open higher following global rally

Xinhua, October 7, 2015 Adjust font size:

U.S. stocks opened higher Wednesday following a rebound in commodity prices, as global stocks markets were boosted by mining and energy shares.

Shortly after the opening bell, the Dow Jones Industrial Average was up 117.85 points, or 0.70 percent, to 16,908.04. The S&P 500 rose 11.89 points, or 0.60 percent, to 1,991.81. The Nasdaq Composite Index gained 16.87 points, or 0.36 percent, to 4,765.23.

In Asia, Japanese stocks ended the trading higher on the Bank of Japan's decision to maintain its ultra-loose monetary easing policy.

European equities were also up through the session, as shares in energy companies surged over 3 percent.

Meanwhile, Wall Street was cheered by continued gains in oil prices. Brent crude and U.S. light crude sharply rose after data showed that U.S. rig count continued to drop.

Traders will keep an eye on the minutes from the Federal Reserve's recent meeting scheduled for release Thursday afternoon. Analysts believed that the possibility for the U.S. central bank to raise interest rates this year becomes lower after a poor jobs report.

U.S. stocks closed mixed Tuesday after wavering in a narrow range, as the International Monetary Fund (IMF) lowered its global growth forecast for 2015. Endi