Stocks Opened Higher as Brexit Fears Eased

U.S. stocks opened sharply higher on Monday as the latest polls showed rising support for the U.K. to remain in the European Union ahead of this week’s long-anticipated referendum. The Dow industrial Average lately gained 234.80 points, or 1.33%, to 17,909.96. The S&P 500 gained 24.67 points, or 1.19%, to 2,095.89. The Nasdaq Composite gained 62.62 points, or 1.30%, to 4,862.96.

Wal-Mart Stores Inc is in talks to sell its Chinese e-commerce business, Yihaodian, to JD.com Inc, the Wall Street Journal reported, citing people familiar with the situation.

Oil rallied on Monday, lifted by a wave of investor confidence and a weaker dollar after polls showed a diminishing chance that Britain may vote to leave the European Union later this week. August Brent crude futures were up 85 cents at $50.02 a barrel by 5.55 a.m. ET. NYMEX crude for July delivery, which expires on Tuesday, was up 80 cents at $48.78 a barrel.

China’s smartphone makers are increasingly turning to patents as ammunition as they try to reel in global leaders Apple Inc. and Samsung Electronics Co.

Twitter Inc. is boosting its expertise in machine learning — an area of technology that lets computers use data to make predictions. To do that, it’s buying Magic Pony Technology, a London-based company that uses machine learning tools for video. Terms of the deal weren’t announced.