U.S. Stocks Open Higher on OPEC-Iran Talks; T-Mobile Reports Strong Q4

U.S. equities opened higher on Wednesday as oil prices rallied on hopes Iran would agree to a production freeze. OPEC leaders are meeting in Tehran on Wednesday. But analysts said Iran is actually looking to produce more oil, following newly-lifted sanctions. 'The idea of telling them to freeze at the levels of January really doesn't seem feasible,’ said Josh Mahony, a market analyst with IG in London. ‘I don't think it's going to happen.’ Meanwhile, T-Mobile (TMUS) posted better than expected profit for its fourth quarter as the telecom adds more customers. Revenue also exceeded Wall Street's estimates. Finally, drug company Inovio Pharmaceuticals (INO) said its Zika virus vaccine showed results in mice and it could start testing the treatment in humans at some point this year. The stock rose 6% following the news. TheStreet’s Scott Gamm reports from Wall Street.