US: Stocks open higher as oil rout stays in focus

[NEW YORK] Wall Street stocks opened modestly higher on Monday as the market sought to regain positive momentum despite another drop in oil prices.

Five minutes into trade, the Dow Jones Industrial Average was at 17,302.66, up 37.45 points (0.22 per cent).

The broad-based S&P 500 rose 5.53 (0.27 per cent) to 2,017.90, while the tech-rich Nasdaq Composite Index added 10.62 (0.22 per cent) at 4,944.08.

US oil prices fell 38 cents to US$35.24 a barrel early Monday, continuing a downward spiral. The S&P 500 and Nasdaq each shed about 1.4 per cent on Friday as falling oil prices continued to rattle investors.

AFP