U.S. stocks open higher on strong jobs data

U.S. stocks opened higher on Wednesday, as investors were cheered by stronger-than-expected private sector jobs data.

U.S. private sector employment increased by 182,000 jobs from September to October, beating market estimates, according to the ADP National Employment Report released Wednesday.

The ADP figure is watched closely as a pre-indicator for the non-farm payrolls report due Friday.

Traders will mainly look to non-farm payrolls this week for hints on the timing of an interest rate hike from the U.S. Federal Reserve.

Meanwhile, Wall Street will also keep a close eye on comments from Federal Open Market Committee members on Wednesday, including Fed Chair Janet Yellen, Vice Chair Stanley Fischer and New York Fed President William Duley.

The U.S. international trade deficit in goods and services came in at 40.8 billion U.S. dollars in September, down 7.2 billion dollars from revised 48 billion dollars in August, the Commerce Department said Wednesday.

Shortly after the opening bell, the Dow Jones Industrial Average gained 17.17 points, or 0.10 percent, to 17,935.32. The S&P 500 rose 2.62 points, or 0.12 percent, to 2,112.41. The Nasdaq Composite Index was up 15.17 points, or 0.29 percent, to 5,160.29.

U.S. stocks kept rising Tuesday, as investors were encouraged by a strong rebound in oil prices. Endi