U.S. stocks open higher

NEW YORK, Dec. 27 (Xinhua) -- U.S. stocks opened higher on Wednesday as investors were awaiting a batch of economic data from the country.

Shortly after the opening bell, the Dow Jones Industrial Average added 5.02 points, or 0.02 percent, to 24,751.23. The S&P 500 increased 1.78 points, or 0.07 percent, to 2,682.28. The Nasdaq Composite Index was up 5.67 points, or 0.08 percent, to 6,941.92.

U.S. economic reports due later on Wednesday include the Conference Board's consumer confidence index and the pending home sales index.

U.S. stocks ended lower on Tuesday, dragged down by a decline in Apple' s shares, as the company was reportedly to cut its quarterly sales forecasts for iPhone X.

The Dow and S&P 500 posted the fifth straight week of gains last week after U.S. President Donald Trump on Friday signed a 1.5-trillion-dollar tax cut bill into law.

The tax bill, the sweeping rewrite of U.S. tax law since 1986, would cut the corporate income tax rate to 21 percent from the current 35 percent and lower individual income rates.

Some companies said they would spend the savings from lower corporate taxes on higher wages and new construction. Enditem