Wall Street opens higher as Fed rate hike wanes

NEW YORK (AA) - Wall Street opened higher Thursday after the possibility diminished of a rate hike in September from the Federal Reserve.

The Dow Jones rose seven points to begin the day at 18,581 and the S&P 500 was up one point to 2,183. The Nasdaq increased two points to 5,231.

Minutes from the Fed's July meeting showed Wednesday that the Federal Open Market Committee officials were divided last month on a rate hike decision.

This was perceived by the markets and investors that a rate hike is not very likely in September.

Meanwhile, with the possibility of raising interest rates waning, the value of the U.S. dollar decreased against major currencies, which helped oil prices to extend their gains on Thursday.

At the opening bell, American benchmark West Texas Intermediate traded at $47.56 a barrel with a 1.7 percent increase, and international benchmark Brent crude was up to $50.25 -- up 0.8 percent.