Stocks Opened Firmly Higher ahead of Data

U.S. stocks opened firmly higher on Monday, putting the main benchmarks on track to climb to start July and the third quarter, as investors awaited data for more clues on the health of the economy. The Dow Jones Industrial lately rose 137.44 points, or 0.64%, to 21,487.07. The S&P 500 advanced 13.10 points, or 0.4%, to 2,436.51. The Nasdaq Composite gained 27.91 points, or 0.45%, to 6,168.33.

Oil futures set off on a positive start Monday as the first decline in U.S. oil-drilling activity since January gave the market a fresh tailwind after seven-consecutive sessions of price gains. Light, sweet crude futures for delivery in August recently traded up 0.8% at $46.39 a barrel. September Brent crude rose 0.6% to $49.08 a barrel.

Detroit’s car companies reported deep sales declines in June, capping a bumpy first half of the year for the U.S. auto industry and setting a bleak tone for the summer selling season. General Motors Co. said sales fell 5% to 243,155 vehicles, Ford Motor Co. said sales totaled 227,979 vehicles — down 5.1% compared with the prior June.

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