US stocks edge higher helped by energy shares

New York - US stocks opened modestly higher on Wednesday, helped by a rebound in oil shares, but sports gear giant Nike sank after sales data pointed to a weaker coming quarter.

Five minutes into trade, the Dow Jones Industrial Average added 0.3% to 18 277.40.

The broad-based S&P 500 rose 0.2% to 2 163.62, while the tech-rich Nasdaq Composite Index gained 0.14% to 5 311.43.

"There isn't any strong sense that the stock market is poised to break out of its range-bound stupor," said Patrick O'Hare of Briefing.com.

Nike shares dropped 1.8% after its fiscal first quarter report showed slumping orders and mounting inventory, causing a number of analysts to cut their target for the stock.