U.S. stocks opened higher on Monday as energy shares gained on the back of surging oil prices. The Dow Jones Industrial Average lately rose 197.75 points, or 0.82%, to 24,460.26. The S&P 500 gained 16.95 points, or 0.64%, to 2,680.37. The Nasdaq Composite advanced 57.83 points, or 0.80%, to 7,267.44.
U.S. oil prices pushed above the $70-a-barrel mark on Monday, as investors began to become more convinced the U.S. might take a hard line on an Iranian nuclear deal. June West Texas Intermediate crude oil rose 65 cents, or 0.9%, to $70.37 a barrel. July Brent added 52 cents, or 0.7%, to $75.39 a barrel.
Swiss-based food giant Nestle will pay Starbucks $7.15 billion in cash for the rights to sell the U.S. coffee chain’s products around the world, tying a premium brand to Nestle’s global distribution muscle.
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