Wall Street opens higher, oil prices ebb as jitters recede

NEW YORK (AP) — Stocks are opening higher on Wall Street and oil prices are easing back Thursday as markets let go of some of the jitters they’ve been having over Russia’s invasion of Ukraine. Major indexes added to their gains a day after Federal Reserve Chair Jerome Powell said he favored a modest interest rate increase at the Fed’s policy meeting in two weeks, bringing relief to investors who had feared he would back more aggressive moves to fight inflation. Trading on the Moscow exchange remained closed and major credit ratings agencies cut Russia’s credit rating. The S&P 500 was up 0.5% and Treasury yields rose.