U.S. stocks open higher ahead of Fed minutes

U.S. stocks opened slightly higher Wednesday as investors awaited the Federal Reserve's minutes for its latest meeting.

Investors kept a close eye on the Fed's September meeting minutes, which is scheduled for release in the afternoon, for more indications on the timing of a next rate hike.

On the Fed's September policy meeting, the U.S. central bank kept its federal funds rate unchanged, but signaled that Fed could have one rate hike by the end of this year.

The market is largely anticipating the Fed to raise interest rates later this year, with Fed Funds futures pricing in a more-than 65 percent probability of a December move.

Oil prices were also in focus, which traded lower in the early trading Wednesday, as a rising U.S. dollar made the greenback-dominated oil less attractive for holders of other currencies.

Shortly after the opening bell, the Dow Jones Industrial Average edged up 1.81 points, or 0.01 percent, to 18,130.47. The S&P 500 rose 1.88 points, or 0.09 percent, to 2,138.61. The Nasdaq Composite Index increased 2.49 points, or 0.05 percent, to 5,249.28.

On Tuesday, U.S. stocks suffered big losses as Alcoa Inc. kicked off the third quarter earnings season by missing estimates on both the top and bottom line. Endi