NEW YORK: US stocks resumed their upward climb in opening trade Monday, as higher oil prices boosted petroleum-linked equities.
Dow members Chevron and ExxonMobil were both up about 0.5 percent as oil prices rose on speculation producers in the Organization of the Petroleum Exporting Countries will move to limit output next month. US stocks hit all-time highs last week.
This week’s calendar includes US consumer price index data for July and earnings from leading retailers including Wal-Mart Stores and Home Depot.
Five minutes into trade, the Dow Jones Industrial Average stood at 18,635.71, up 0.3 percent.
The broad-based S&P 500 rose 0.2 percent to 2,189.12, while the tech-rich Nasdaq Composite Index advanced 0.3 percent to 5,246.65.