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The Dow Jones industrial average rose 23.70 points, or 0.12 percent, to close at 19,121.60, while the S&P 500 gained 2.94 points, or 0.13 percent, to end at 2,204.66. The Nasdaq advanced 11.11 points, or 0.21 percent, to close at 5,379.
Oil prices tumbled nearly 4 percent on Tuesday amid fresh uncertainties over an OPEC deal to reduce production levels with ministers from the 14-nation cartel slated to meet in Vienna later Wednesday to announce a decision on output curbs proposed in September.
«The oil market is unlikely to be impressed by any token, face saving agreement from OPEC largely based on production freezes,» said Ric Spooner, chief market analyst at CMC Markets, in a note.
Reuters, citing a source, reported documents prepared for the meeting proposed OPEC cut production by 1.2 million barrels per day from October levels at 33.82 million barrels a day, which was more than the 1 million barrel per day the group discussed at a meeting in September.
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