US stocks opened slightly higher Wednesday amid reports that debt-wracked Greece is zeroing in on a long-awaited deal for a second bailout package.

The Dow Jones Industrial Average rose 5.07 points (0.04 percent) to 12,883.27 in the first five minutes of trade. The broad-based S&P 500 climbed 1.74 points (0.13 percent) to 1,348.79, while the Nasdaq Composite added 5.84 points (0.20 percent) to 2,909.92.

"There is mounting hope that Greek officials will soon be able to secure multi-agency bailout funds and strike a deal to avoid a disorderly default," said Jim Cunningham at Schaeffer's Investment Research.

US stocks had closed in positive territory Tuesday as investors weighed reports that Greece was nearing an agreement that would avert a default on its massive debt. The Dow and S&P 500 gained about 0.20 percent; the Nasdaq was flat.