US: Energy shares buoy Wall St despite weak data

[NEW YORK] US stocks opened slightly higher on Monday, following sharp weekly declines on major indexes, led by stocks in the energy sector as US crude futures prices rose.

The Dow Jones industrial average rose 43.15 points, or 0.25 per cent, to 17,208.1, the S&P 500 gained 6.52 points, or 0.33 per cent, to 2,001.51 and the Nasdaq Composite added 6.99 points, or 0.15 per cent, to 4,642.23.

US consumer spending recorded its biggest decline since late 2009 in December, with households appearing to save the extra cash from cheaper gasoline.

REUTERS