Stocks Opened at Record Highs on Tax-plan Optimism

U.S. stocks opened at record highs on Monday on growing confidence congressional Republicans will succeed in getting a major tax bill passed this week. The Dow Jones Industrial Average lately rose 202.11 points, or 0.82%, to 24,853.85. The S&P 500 gained 18.08 points, or 0.68%, to 2,693.89. The Nasdaq Composite added 53.39 points, or 0.77%, to 6,989.98.

U.S. oil prices advanced on Monday, adding to Friday’s gains that came after weekly rig count data showed a decline for the first time in four weeks. West Texas Intermediate crude oil for January rose 39 cents, or 0.7%, to $57.69 a barrel. Brent oil for February added 53 cents, or 0.8%, to $63.76.