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U.S. stocks open higher as euro recovers

Xinhua, March 16, 2015 Adjust font size:

U.S. stocks opened higher on Monday as investors focused on weakness in the U.S. dollar ahead of Wednesday' s key Fed meeting.

Wall Street eyed currency markets Monday. In the early trading, the euro rebounded 0.72 percent against the dollar from the previous session, propelling the three indices.

Investors have also been cautious ahead of a U.S. Federal Reserve statement due on Wednesday, when they anticipated the central bank to give a hint on the timing of an interest rate hike.

Chinese shares rose to the highest level in five and a half years on Monday after Premier Li Keqiang said China could turn to policy tools to aid economic growth.

Shortly after the opening bell, the Dow Jones Industrial Average gained 107.73 points, or 0.61 percent, to 17,857.04. The S&P 500 rose 11.98 points, or 0.58 percent, to 2,065.38. The Nasdaq Composite Index was up 24.00 points, or 0.49 percent, to 4,895.76.

U.S. stocks ended lower Friday, with both the Dow Jones Industrial Average and the S&P 500 turning negative for the year, as economic data came out weaker-than-expected while the dollar regained its strength.

Dampening investors' sentiment, the dollar renewed its rally on Friday, as the euro declined against the dollar to the lowest level since January 2003 amid monetary policy divergence and rising concerns for Greece. Endi