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US stocks edge higher as oil prices rise

[NEW YORK] US stocks opened higher Monday in the second session since markets were shocked by the dismal May jobs report, which ended expectations of a Federal Reserve interest rate hike this month.

But traders will be keeping an eye on a speech by Fed Chair Janet Yellen around midsession to see how her message on possible rates increases this year changes in the wake of Friday's employment figures.

Five minutes into trade, the Dow Jones Industrial Average was up 0.3 per cent at 17,852.12.

The broad-market S&P 500 added 0.1 per cent at 2,102.12, while the tech-heavy Nasdaq Composite rose 0.1 per cent to 4,945.28.

Oil producers and service companies got a boost from a 2.0 per cent jump in crude prices; ExxonMobil and Chevron both added 0.7 per cent, while Schlumberger gained 0.9 per cent.


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