US stocks rise on World Bank economic forecast

US stocks Wednesday opened higher, following a rise in European markets after the World Bank raised its growth forecast for the global economy.

Five minutes into trade, the Dow Jones Industrial Average advanced 29.99 (0.18 percent) to 16,403.85.

The broad-based S&P 500 added 4.44 (0.24 percent) at 1,843.32, while the tech-rich Nasdaq Composite Index tacked on 17.76 (0.42 percent) to 4,200.78.

The World Bank said global economic growth is estimated to hit 3.2 percent this year, accelerating from a 2.4 percent annual pace in 2013.

At the same time, the report warned of potential volatility in capital flows as the United States withdraws its stimulus.