US stocks open higher as oil jumps

U.S. stocks opened higher on Monday, as investors focused on oil prices and awaited the minutes of the U.S. Federal Reserve.

Oil prices rallied in the morning session on Monday, with both U.S. oil and Brent crude jumping over 1 percent in choppy trade.

Meanwhile, investors await the minutes of the Fed's July policy meeting for more indications on the timing of the next interest rate hike.

On the global front, Chinese stocks closed higher Monday, with the benchmark Shanghai Composite Index going up 2.44 percent to close at 3,125.2 points.

Tokyo shares closed slightly lower with market sentiment dampened by the rising yen amid relatively low turnover as many investors were out for summer holidays.

Shortly after the opening bell, the Dow Jones Industrial Average gained 50.54 points, or 0.27 percent, to 18,627.01. The S&P 500 rose 4.41 points, or 0.20 percent, to 2,188.46. The Nasdaq Composite Index increased 11.66 points, or 0.22 percent, to 5,244.56.

U.S. stocks posted slight gains last week, but all three major indices refreshed their new closing highs on Thursday.

Source : XINHUA