Stocks Opened Higher on Rate-hike Prospects

U.S. stocks opened slightly higher on Monday as investors weighed the possibility of an interest-rate hike in the coming months. The Dow industrials lately added 86.50 points, or 0.47%, to 18,481.90. The S&P 500 gained 9.47 points, or 0.44%, to 2,178.51. The Nasdaq Composite climbed 14.43 points, or 0.28%, to 5,233.35.

Two Fed officials have played down the likelihood of two rate increases this year beginning as soon as next month, after the U.S. central bank’s second-in-command floated the idea on the sidelines of the Kansas City Fed’s research conference.

Two Fed officials have played down the likelihood of two rate increases this year beginning as soon as next month, after the U.S. central bank’s second-in-command floated the idea on the sidelines of the Kansas City Fed’s research conference.

Americans increased spending by 0.3% in July, buying more new cars and trucks and devoting more money to utilities such as cooling their homes. The increase in July matched Wall Street expectations.

Mylan NV on Monday said it would launch a generic alternative to EpiPen at a 50% discount after being criticized for dramatically raising the price of the lifesaving drug.