U.S. stocks open higher amid mixed data

U.S. stocks opened higher Wednesday as Wall Street digested a batch of mixed economic reports while awaiting the outcome of the Federal Reserve's policy meeting.

The Producer Price Index (PPI) for final demand increased 0.4 percent in May, seasonally adjusted, beating market consensus, the U.S. Labor Department reported Wednesday.

U.S. industrial production decreased 0.4 percent in May after increasing 0.6 percent in April, the Fed said Wednesday.

The June 2016 Empire State Manufacturing Survey indicates that business activity expanded modestly for New York manufacturers. The headline general business conditions index climbed fifteen points to 6.0.

Meanwhile, investors kept a close eye on the U.S. central bank's conference for more clues on the timing of the next interest rate hike. However, most analysts are not expecting the Fed to raise interest yet at the meeting.

Shortly after the opening bell, the Dow Jones Industrial Average rose 41.71 points, or 0.24 percent, to 17,716.53. The S&P 500 added 4.64 points, or 0.22 percent, to 2,079.96. The Nasdaq Composite Index was up 10.95 points, or 0.23 percent, to 4,854.50. Endi