U.S. stocks open slightly higher after two days of losses

U.S. stocks opened slightly higher on Wednesday following two days of losses after the final reading on first-quarter GDP showed the American economy shrank by an even larger margin, while Federal Reserve Chairman Jerome Powell said the central bank is aiming to provoke a moderation in growth. The S&P 500
SPX,
+0.21%
rose 3.8 points, or 0.1%, to 3,825, the Dow Jones Industrial Average
DJIA,
+0.58%
gained 94 points, or 0.3%, to 31,041. The Nasdaq Composite
COMP,
+0.09%
was flat at 11,181.