Stocks Traded Slightly Higher at the Open

U.S. stocks opened slightly higher on Monday as investors returned their focus to U.S. tax legislation and corporate earnings. The Dow Jones Industrial Average lately rose 36.98 points, or 0.16%, to 23,395.22. The S&P 500 was up 0.09 point, to 2,578.94. The Nasdaq Composite gained 4.24 points, or 0.06%, to 6,787.03.

Oil prices declined Monday ahead of next week’s meeting of global crude producers where an extension of output cuts is set to be discussed. Brent crude fell 52 cents, or 0.8%, to $62.20 a barrel. West Texas Intermediate futures were trading lower by 21 cents, or 0.4%, at $56.34 a barrel.

Internet giant Alibaba Group Holding Ltd (BABA) said on Monday it would invest HK$22.4 billion ($2.87 billion) for a major stake in China’s top hypermart operator, Sun Art Retail Group Ltd <6808.HK>, part of a wider push into offline retail.

Chipmaker Marvell Technology Group Ltd (MRVL.O) said it would buy smaller rival Cavium Inc (CAVM.O) in a $6 billion deal, as it seeks to expand its wireless connectivity business in a fast consolidating semiconductor industry.