Stocks Edged Higher at Open on Tax Reform Hopes

U.S. stocks opened slightly higher on Monday, on rising optimism over President Donald Trump’s proposed tax overhaul. The Dow Jones Industrial Average rose 7.43 points, or 0.03%, to 22,781.1. The S&P 500 gained 2.06 points, or 0.08%, to 2,551.39. The Nasdaq Composite added 7.26 points, or 0.11, to 6,597.44.

Oil prices were slightly to modestly higher Monday ahead of the release of two highly anticipated reports on global crude supply and demand. Brent crude rose 3 cents, or 0.1%, to $55.65 a barrel. West Texas Intermediate futures rose 33 cents, or 0.7%, to $49.62 a barrel.

IKEA stores worldwide turned over a total of 38.3 billion euros ($44.9 billion) in the fiscal year through August, up 5 percent from a year earlier, franchisor Inter IKEA said on Monday. At the end of the period, the budget home furnishing retailer had 403 stores in 49 markets.

The Nobel prize in economics has been awarded to Richard Thaler of the University of Chicago for research showing how people’s choices on economic matters — whether on savings or game shows like “Deal or No Deal” — are not always rational.