US stock market opens higher

By Ovunc Kutlu

NEW YORK (AA) – The U.S. stock market opened higher Thursday with the rebound in oil prices, and with the possibility of a rate hike by the Federal Reserve diminishing.

The Dow Jones rose 12 points to begin the day at 18,047 and the S&P 500 was up one points at 2,126. The Nasdaq increased 11 points to start the day at 5,185.

At the first bell, American benchmark West Texas Intermediate was up 0.6 percent at $43.84 per barrel. International benchmark Brent crude traded at $46.25 a barrel -- a 1.4 percent increase.

Retail sales, which are closely monitored by the Fed, fell by 0.3 percent in August -- the first decline in the last five months.

The disappointing data was perceived by investors that it is now less likely that the Fed will increase its benchmark interest rate this month, according to analysts.