Markets Right Now: US stocks open higher

NEW YORK (AP) — Stocks are opening higher on Wall Street, led by gains in energy and materials companies.

Crude oil prices rose 2 percent early Wednesday, sending energy stocks higher.

FedEx and Adobe each jumped 6 percent after reporting earnings that came in ahead of expectations.

Later Wednesday the Federal Reserve will release its latest decision on interest rates.

The Dow Jones industrial average rose 85 points, or 0.5 percent, to 18,215.

The Standard & Poor’s 500 index gained 10 points, or 0.5 percent, to 2,149. The Nasdaq composite climbed 25 points, or 0.5 percent, to 5,267.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.70 percent.