U.S. stocks open higher ahead of jobs report

U.S. stocks opened higher on Monday, the last trading day for November, as investors awaited key jobs report later this week.

With no major economic data due out Monday, investors were looking to this Friday, which will bring the key November employment data, the last jobs report for the year, before the Federal Reserve decides on interest rates at its December meeting.

On Thursday, the European Central Bank (ECB) is expected to expand its easing program and cut its negative deposit rate further.

"This is a huge week. The ECB has dropped hints suggesting it will cut interest rates at its policy meeting Thursday, while Friday' s November employment report could ice the Fed' s decision to raise interest rates in two weeks," said Chris Low, chief economist at FTN Financial.

On Monday, meanwhile, the International Monetary Fund (IMF) is expected to announce inclusion of China' s yuan, or renminbi, in the basket of its Special Drawing Right (SDR), currently comprised of the euro, U.S. dollar, Japanese yen and British pound.

Analysts said such move would elevate the renminbi and China' s influence in the global economy.

Shortly after the opening bell, the Dow Jones Industrial Average gained 31.40 points, or 0.18 percent, to 17,829.89. The S&P 500 rose 3.12 points, or 0.15 percent, to 2,093.23. The Nasdaq Composite Index was up 9.69 points, or 0.19 percent, to 5,137.21.

U.S. stocks closed mixed in light volume in a shortened post-holiday session on Friday, as Wall Street eyed retailers' Black Friday sales results. Endite