Stocks Opened Higher amid Reports of Impending U.S.-China Trade Deal

U.S stocks opened higher on Monday on the heels of reports of an impending trade deal between the U.S. and China. The Dow Jones Industrial Average lately advanced 33.91 points, or 0.13%, to 26,060.23. The S&P 500 rose 7.18 points, or 0.26%, to 2,810.87. The Nasdaq Composite gained 33.86 points, or 0.45%, to 7,629.21.

Crude-oil futures on Monday headed higher, amid fresh developments in U.S.-China trade negotiations that could result in a resolution to the protracted dispute—a potentially boon for demand for crude. April West Texas Intermediate crude added 37 cents, or 0.7%, to reach $56.17 a barrel. May Brent gained 54 cents, or 0.8%, to trade at $65.61 a barrel.

Office Depot on Monday teamed up with Alibaba Group Holdings Ltd to launch a co-branded e-commerce website, seeking to tap into the opportunities of selling to small and medium businesses in the United States. The office supplies provider said the partnership would give Alibaba access to Office Depot’s 10 million customers and 1,800 sales agents.