By Liz Moyer

Investing.com — U.S. stock opened higher Thursday, as investors sought to maintain a rally while digesting the Federal Reserve’s latest information.

The ET rose by 251 points, or 0.8% at 9:36 AM ET. Meanwhile the rose 0.6% while the ticked up 0.1%.

The minutes of the Federal Reserve’s May meeting indicate that the central bank may slow down its rate of interest rate rises later in the year if inflation trend lowers and there is less demand-supply imbalance. This has cheered investors, and sent stock prices higher.

Shares of department store operator Macy’s Inc (NYSE:) jumped 15% in the premarket after it raised its full-year profit forecast, helped by strong demand for apparel from consumers returning to work and social events.

Apple Inc. shares dropped 1.9% after Bloomberg reported that Apple Inc.’s stock price fell 1.9% due to a disruption in China that was linked to lockdowns.

Twitter Inc (NYSE:) shares climbed 5.7% in premarket trading after a filing showed that Tesla (NASDAQ:) CEO Elon Musk lifted his personal commitment in buying the social media platform by $6.25 billion to $33.5 billion and was also in talks with shareholders for additional financing commitments to fund the deal.

Also, oil prices were rising. In early trading, crude oil rose 0.9% and jumped 1.5% to $112/barrel. was at $1,844.