Dow, S&P 500 Opened at Record Highs

U.S. stocks opened higher on Friday, with the Dow and the S&P hitting at record highs, as concerns over the political situation with North Korea appeared to ease. The Dow Jones Industrial Average lately rose 59.16 points, or 0.27%, to 22,327.50. The S&P 500 added 6.87 points, or 0.27%, to 2,507.10. The Nasdaq Composite added 24.64 points, or 0.38%, to 6,473.11.

Oil futures turned moderately lower Monday, failing to hold on to early gains after prices rose to a five-month high last week, buoyed by recent data showing tightening supplies. West Texas Intermediate futures declined 26 cents, or 0.5%, to $49.63 a barrel. Brent crude lost 26 cents, or 0.5%, to $55.36 a barrel.

U.S. defense contractor Northrop Grumman Corp said on Monday it would buy missile and rocket maker Orbital ATK Inc for about $7.8 billion in cash. The offer of $134.50 per Orbital share represents a premium of 22 percent over the stock’s Friday close.

Software startup Slack Technologies Inc said it raised $250 million from SoftBank Group Corp (9984.T) and other investors in its latest funding round, boosting the company’s valuation to $5.1 billion.