Opening Bell: U.S. Stocks Rise Slightly; Goldman Sachs to Cut Staff

U.S. stocks opened slightly higher on Thursday, following a steep sell off on Wednesday, which pushed all three major indexes into correction territory. Investors still remain laser-focused on oil, which is trading below $31 a barrel. Analysts say a bear market, or a 20 percent or more decline in an index from its recent high, is brewing. Meanwhile, Best Buy (BBY) lowered its fourth quarter sales outlook. The retail giant now expects U.S. sales to drop 1.5 percent on the heels of weak mobile phone demand, down from previously reported flat growth. Plus, job cuts could be coming at Goldman Sachs (GS). The Wall Street Journal reported the investment bank is looking to cut 10 percent of the staff in its debt, currencies and commodities unit. TheStreet’s Scott Gamm reports from Wall Street.