Stocks open higher, lifted by Iran nuclear deal
NEW YORK (AP) — The stock market is opening higher after world powers and Iran reached a deal on the country’s nuclear program and as Wall Street was poised to extend seven weeks of gains.
The Dow Jones industrial average rose six points to 16,071 in early trading Monday. The Standard & Poor’s 500 index rose two points to 1,807. The Nasdaq is up 12 points to 4,004.
Sunday’s deal with Iran was the first significant progress in years to curtail that country’s nuclear ambitions. It will reduce the risk of conflict, improve trade and could boost global oil supplies. The energy sector was the biggest decliner among the S&P 500′s 10 industry groups.
Wal-Mart rose slightly after the company announced its CEO Mike Duke is stepping down.