Stocks Opened Higher, Focus on Data

U.S. stocks opened slightly higher on Monday, as expectations for weak manufacturing data eased some worries that the Federal Reserve may end its monetary stimulus earlier than expected.The Dow Jones industrial average lately gained 45.77 points, or 0.30 percent, to 15,161.34. The Standard & Poor’s 500 Index rose 0.27 point, or 0.02 percent, to 1,631.01. The Nasdaq Composite Index was off 3.35 points, or 0.10 percent, to 3,452.56.

Sprint Nextel Corp said Dish Network Corp’s proposal to acquire Clearwire Corp is “not actionable” because some of its provisions violate Delaware law.

Bank of America agreed to the proposed settlement in June 2011 to resolve claims by investors who held bonds issued by mortgage lender Countrywide Financial Corp, which Bank of America bought in 2008.

Crude-oil prices moved sharply higher on Monday, from a basically flat position earlier in Europe’s trading session. Crude for July delivery ┬árose 82 cents, or 0.9%, to $92.78 a barrel, while Brent crude rose $1.40, or 1.4%, to $101.79 a barrel.

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