Stocks Opened Higher amid Earnings, Coronavirus Aid

U.S. stocks opened modestly higher on Monday as investors considered more earnings results and the potential for more virus-related stimulus measures. The Dow Jones Industrial Average lately added 196.75 points, or 0.72%, to 27,630.23. The S&P 500 rose 9.13 points, or 0.27%, to 3,360.41. The Nasdaq Composite gained 20.22 points, or 0.18%, to 11,031.20.

Oil futures traded higher Monday, getting a lift from optimistic remarks about demand from the chief executive of the world’s largest oil company. West Texas Intermediate crude for September delivery was up 55 cents, or 1.3%, at $41.77 a barrel, while October Brent crude gained 37 cents, or 0.8%, to trade at $44.77 a barrel.

Earnings season continues later on Monday, with Novavax (NVAX), IAC/InteractiveCorp (IAC), Occidental Petroleum (OXY), J2Global (JCOM) and ZoomInfo Technologies (ZI) set to report quarterly results after market close.

President Donald Trump on Saturday signed executive orders to pause the collection of payroll taxes, provide help on rent, assist with student-loan payments and extend a portion of additional unemployment benefits that had lapsed at the end of last month.