Stocks Soared at Open as Trade Concerns Allayed

U.S. stocks soared at open on Monday, as optimism for a trade war truce between the U.S. and China emboldened investors’ risk appetite. The Dow Jones Industrial Average lately rallied 330.96 points, or 1.30%, to 25,869.42. The S&P 500 advanced 28.95 points, or 1.05%, to 2,789.12. The Nasdaq Composite rose 104.69 points, or 1.43%, to 7,435.23.

Crude prices soared on Monday as optimism ahead of an OPEC meeting grew after Russian President Vladimir Putin said he and Saudi Crown Prince Mohammed Bin Salman agreed to extend output cuts on the sidelines of the weekend G-20 meeting. West Texas Intermediate crude for January delivery surged $2.26, or 4.4%, to $53.20 a barrel. February Brent crude jumped $2.30, or 3.9%, to $61.75 a barrel.