Stocks higher before Bernanke speech in Wyoming

Stocks are opening higher, in advance of a closely-watched address by Chairman Ben Bernanke at a Federal Reserve conference.

Many investors are already expecting that the Fed will not announce any major action to boost the economy. Some investors want the Fed to buy more bonds, which would have the effect of keeping interest rates low.

Bernanke will make his remarks at 10 a.m. EDT at a conference in Jackson Hole in Wyoming.

The Dow Jones industrial average is up 66 points at 13,067. The broader Standard & Poor’s 500 index is up seven points to almost 1,407. The Nasdaq is up 22 points to almost 3,071.

U.S. investors are also watching for a Commerce Department report on monthly factory orders.

Stocks are higher in Europe.