Stocks Opened Slightly Higher amid Central Bank Stimulus Hopes

U.S. stocks opened slightly higher on Monday as investors hoped global central banks would unleash further stimulus. The Dow Jones Industrial Average lately climbed 25.06 points, or 0.09%, to 26,822.52. The S&P 500 rose 5.27 points, or 0.18%, to 2,983.98. The Nasdaq Composite gained 15.79 points, or 0.19%, to 8,118.86.

Oil futures rose Monday after Saudi Arabia’s new energy minister signaled a continued commitment to production curbs. West Texas Intermediate crude for October delivery rose 30 cents, or 0.5%, to $56.82 a barrel, while November Brent crude was up 22 cents, or 0.4%, to $61.66 a barrel.

Investors are hoping for easier-money policy from the Fed, which convenes a two-day policy meeting Sept.17-18 and is expected to slash rates by a quarter-of-a-percentage point. Before that, the European Central Bank is expected to roll out stimulus plans on Thursday.

Wells Fargo forecast a bigger-than-expected drop in 2019 net interest income on Monday, largely due to lower interest rates. The U.S. lender expects net interest income to fall 6%, compared with its earlier expectations of an about 5% drop.

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