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U.S. stocks open sharply higher as Brexit fears abate

Xinhua, June 20, 2016 Adjust font size:

U.S. stocks opened sharply higher Monday as jitters about a possible Brexit eased after the latest polls showed the Remain camp making gains ahead of Britain's EU referendum later this week.

New polls released over the weekend showed those wanting to stay in the European Union holding a slim majority over the Leave campaign, according to media reports on Monday.

The polls indicated a swing back to "Remain" after the killing of British politician Jo Cox.

A referendum will be held on Thursday, June 23, to decide whether Britain should leave or remain in the European Union.

European equities soared Monday following the news, with the German benchmark DAX index at the Frankfurt Stock Exchange surging over 3 percent in early trading.

With no major economic data due Monday, oil prices were also in focus, which traded about 2 percent higher in early trading Monday amid abating Brexit fears.

Shortly after the opening bell, the Dow Jones Industrial Average jumped 145.56 points, or 0.82 percent, to 17,820.72. The S&P 500 gained 17.98 points, or 0.87 percent, to 2,089.20. The Nasdaq Composite Index leapt 57.53 points, or 1.20 percent, to 4,857.87.

On Friday, U.S. stocks ended lower after wavering in a tight range as fears about a possible Brexit continued to weigh on Wall Street. Endi