Stocks Opened Higher on Hopes of Trump tax Plan Progress

U.S. stocks opened higher on Monday as investors bet President Donald Trump’s tax reform could make some headway and expectations of a more hawkish successor to Fed Chair Janet Yellen. The Dow Jones Industrial Average lately rose 52.78 points, or 0.24%, to 22,457.87. The S&P 500 was up 3.45 points, or0.14%, to 2,522.81. The Nasdaq Composite gained 14.38 points, or 0.22%, to 6,510.34.

Oil prices pulled back on Monday, weighed down by a strong dollar and data pointing to rising global production. November West Texas Intermediate crude fell 96 cents, or 1.9%, to $50.70 a barrel. December Brent crude fell 95 cents, or 1.6%, to $55.84 a barrel .