US stock market opens higher, oil extends gains

NEW YORK (AA) – Wall Street opened higher Tuesday, triggered by the increase in European stock markets and oil prices.

The Dow Jones increased 16 points to begin the day at 18,545. The S&P 500 was flat with less than a one point gain to 2,181, while the Nasdaq was up three points to 5,216 at the start of the day.

At the U.S. stock opening, Germany's DAX index was up 1.03 percent, while the U.K.'s FTSE posted a 0.42 percent increase, and France's CAC 40 saw a 0.61 percent rise.

Oil prices extended their gains with a weaker U.S. dollar against major currencies and with OPEC's signal on Monday that it is planning to hold an informal meeting at the end of next month in Algeria to discuss oil prices and oversupply in the market.

At the first bell, American benchmark West Texas Intermediate traded at $43.30 a barrel with a 0.6 percent gain, and international benchmark Brent crude was up to $45.53 -- a 0.3 percent increase.

Oil prices may climb higher if the U.S.' weekly crude and gasoline inventories show a decline Wednesday, according to analysts.