U.S. stocks open higher on hopes of Greece deal

U.S. stocks opened higher on Monday, as investors sensed hopes of progress on talks to avert a debt default in Greece.

The Greek government's latest plan makes a potentially major concession on cutting deficits in its pension system, according to the Wall Street Journal.

The plan was formally submitted to creditors Monday morning and could be a big step toward ending a months-long deadlock that has spurred talk of a potential Greek exit from the euro zone.

The finance ministers of the eurozone countries concluded a meeting in Brussels on Monday and will meet again later in the week, seeking to strike a last-minute deal over the Greek debt issue.h Eurogroup's Luxembourg meeting failed to clinch an agreement on Greece last week.

On June 30, the extension of Greece's second bailout will expire. On the same day, Athens needs to repay some 1.5 billion euros (1.69 billion U.S. dollars) of loan installments to the International Monetary Fund.

Shortly after the opening bell, the Dow Jones Industrial Average increased 125.72 points, or 0.70 percent, to 18,141.67. The S&P 500 gained 14.99 points, or 0.71 percent, to 2,124.98. The Nasdaq Composite Index was up 38.05 points, or 0.74 percent, to 5,155.05.

U.S. stocks ended lower on Friday, with the three major indices snapping a three-day winning streak, as investors were assessing the unfolding Greek debt crisis. Endi