US stock market opens higher

NEW YORK (AA) - The stock market opened higher Wednesday, bouncing back from the sell-off from the previous day and a less probable likelihood of a rate hike by the Federal Reserve.

The Dow Jones rose 26 points to begin the day at 18,093 and the S&P 500 was up four points at 2,131. The Nasdaq increased 19 points to start the day at 5,174.

The global investment bank Goldman Sachs announced Tuesday that it has lowered its forecast for the likelihood of the Fed raising its benchmark interest rate this month to 25 percent, from 40 percent.

As the possibility of a Fed rate hike decreased, investors have taken a buying position in the stock market, bouncing back from the previous day's losses.

On Tuesday, indexes fell more than 1 percent with the sharp decline in oil prices.

The global oil market and Wall Street will closely watch the U.S.'s weekly crude oil and gasoline inventories, which will be announced later on Wednesday.