Wall St erases early losses, drifts higher

MARKETS-USA-STOCKS-OPEN:Wall St erases early losses, drifts higher

U.S. stocks erased early losses and turned positive on Wednesday, led by gains in materials and consumer staples shares.

The Dow Jones industrial average gained 28.49 points, or 0.22 percent, to 13,197.09. The Standard & Poor's 500 Index rose 1.65 points, or 0.12 percent, to 1,403.00. The Nasdaq Composite Index added 0.16 points, or 0.01 percent, to 3,016.02.