Stocks Opened Higher as Inflation Concerns Ebbed

U.S. stocks opened higher on Monday, as worries about the inflation picture and rising rates receded. The Dow Jones Industrial Average lately rose 232.79 points, or 0.92%, to 25,542.78. The S&P 500 was up 17.09 points, or 0.62%, to 2,764.39. The Nasdaq Composite climbed 48.48 points, or 0.66%, to 7,385.87.

Oil prices drifted near the little-changed mark Monday morning, but largely held on to gains made last week on the back of halted production at a Libyan oil field and an unexpected drop in U.S. crude stockpiles. West Texas Intermediate crude oil for April delivery rose 4 cents, or less than 0.1%, to $63.61 a barrel. Brent crude slipped 5 cents, or 0.1%, to $67.26 a barrel.

The board of directors of The Weinstein Company said late Sunday the New York film and TV studio planned to file for bankruptcy after talks to sell it collapsed, several media outlets reported.