Stocks Opened Higher Await Economic Data

U.S. stocks opened higher on Monday, as investors looked ahead to U.S. economic data this week as well as the minutes to the Federal Reserve’s last meeting. The Dow Jones Industrial Average lately gained 72.87 points, or 0.39%, to 18,649.34. The S&P 500 added 6.19 points, or 0.28%, to 2,190.24. The Nasdaq Composite climbed 21.70 points, or 0.41%, to 5,254.59.

Factory activity in New York slowed in early August for the second straight month, and manufacturers in the state cut jobs. The Federal Reserve Bank of New York said Monday that its Empire State manufacturing index dropped to a reading of minus 4.2, from 0.6 in July. Any reading above zero points to expansion.

Russia is opening up to an agreement with other major oil producers to freeze output, in a bid to boost crude prices, according to media reports on Monday.

Alphabet Inc.’s (GOOGL) Google Fiber unit is rethinking how to deliver internet connections in about a dozen metro areas, including Los Angeles, Chicago and Dallas, after its initial rollouts proved more time-consuming and expensive than anticipated, according to people familiar with the company’s plans.

Mid-America Apartment Communities will acquire Atlanta-based Post Properties in an all-stock deal valued at nearly $4 billion.