Stocks Opened Higher after Fischer’s Dovish Remarks

U.S. stocks opened higher on Monday, finding support in part from a top Federal Reserve official’s comments that suggest monetary policy may still be needed to aid recovery in the world’s largest economy. The Dow Jones Industrial Average lately added 30.60 points, or 0.18%, to 16,584.53. The S&P 500 was up 5.22 points, or 0.27%, to 1,936.81. The Nasdaq Composite gained 13.93 points, or 0.32%, to 4,384.83.

Online travel agency Priceline Group Inc forecast third-quarter earnings below analysts’ estimates, mainly due to heavy spending on its international expansion. Priceline forecast an adjusted profit of $19.60-$21.10 per share for the third quarter ending September.

Balfour Beatty PLC has spurned a revised merger proposal from fellow support services and construction group Carillion PLC as the U.K. civil-engineering group turned in a narrower first-half net loss.

Five fast food chains including McDonald’s and Yum Brands Inc have published details of their suppliers on their Chinese websites, following a request from Shanghai authorities after the latest food safety scare.

Brent crude traded near its lowest level in nine months amid speculation that U.S. air strikes in Iraq diminished the threat to oil supplies posed by insurgents. Brent for September settlement fell 18 cents to $104.84 a barrel on the ICE Futures Europe exchange at 1:48 p.m. London time.