U.S. Stocks Open Higher as Oil Prices Stabilize Ahead of Supply Data

U.S. stocks opened higher on Tuesday as oil prices rebounded after starting the week lower. Wall Street is awaiting the latest oil supply data which will be released later today. The official oil supplies data for the United States is expected to show continued high stockpiles. The expansion of U.S. crude inventories, Iran’s expected full resumption of oil supply to the market, coupled with the Organization of the Petroleum Exporting Countries’ confirmation last week that output by its members will continue to grow next year, all point to a bigger global oil glut in the future. On Monday, both Nymex and Brent fell more than 3 percent after weak data out of China and Japan stoked concerns about demand. TheStreet's Jane King, Rhonda Schaffler and Scott Gamm have details from Wall Street.