Stocks Opened Higher; Oil Prices Slumped

U.S. stocks opened sharply higher on Monday, with Dow up over 140 points, as investors eyed low oil prices in a shortened trading week. The Dow Jones Industrial Average lately gained 118.59 points or 0.69%, to 17,247.14. The S&P 500 added 13.92 points, or 0.69%, to 2,019.47. The Nasdaq Composite was up 34.07 points, or 0.69%, to 4,957.15.

Brent crude prices hit their lowest in over 11 years on Monday, hounded by a relentless rise in global supply that looks set to outpace demand again next year. Brent futures fell by about 2 percent to as low as $36.05 per barrel on Monday, their weakest since July 2004, and were down 41 cents at $36.47 at 1115 GMT.

Fitbit Inc.(FIT) surged in premarket trade Monday, after Pacific Crest Securities analyst Brad Erickson said the fitness-band maker’s holiday sales have been “exploding” since a weak Black Friday performance. Erickson said his in-store checks suggest a “substantial increase” in sales volumes from a month ago, nearly a third of stores have seen temporary sell outs and market share remains dominant.

Walt Disney Co.(DIS) climbed in premarket trade Monday, after the stronger-than-expected weekend box office performance of “Star Wars: The Force Awakens.”

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