Stocks Opened Higher on Financial, Tech Gains

U.S. stocks opened higher on Monday on gains in financial and technology stocks as investors awaited a slew of earnings reports this week. The Dow Jones Industrial Average lately rose 69.13 points, or 0.30%, to 22,940.85. The S&P 500 gained 5.66 points, or 0.22%, to 2,558.83. The Nasdaq Composite added 1.90 points, or 0.33%, to 6,627.70.

Crude oil prices jumped to an almost three-week high on Monday, driven up by increased tensions in the Middle East after Iraq pushed into the oil city of Kirkuk. West Texas Intermediate crude rallied 65 cents, or 1.3%, to $52.10 a barrel. Brent for December gained 71 cents, or 1.2%, to $57.88.

The U.S economy remains strong and the strength of the labor market calls for continued gradual increases in interest rates despite subdued inflation, Federal Reserve Chair Janet Yellen said on Sunday.