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U.S. stocks open higher after second U.S. presidential debate

Xinhua, October 10, 2016 Adjust font size:

U.S. stocks opened higher Monday as Wall Street digested the latest information from Sunday's second U.S. presidential debate amid rising oil prices.

Candidates for U.S. president Donald Trump and Hillary Clinton went after each other relentlessly on Sunday night in the second presidential debate, hitting each other hard with scandals.

Trump's campaign has been under fire recently, after a leaked 2005 video of the GOP standard bearer's vulgar remarks about women caused uproar.

A rebound in oil prices also provided some upward jolts to the stock market. Oil prices traded higher Monday, with both U.S. oil and Brent crude jumping over 50 U.S. dollars a barrel in the early trading, after Russian President Vladimir Putin said Russia is ready to join an output cut deal.

With no major economic data due Monday, investors were still sifting through Friday's jobs report. U.S. total nonfarm payroll employment increased by 156,000 in September, lower than the market estimates of 176,000, and the unemployment rate rose slightly to 5 percent, announced the Labor Department.

Shortly after the opening bell, the Dow Jones Industrial Average added 96.56 points, or 0.53 percent, to 18,337.05. The S&P 500 gained 9.78 points, or 0.45 percent, to 2,163.52. The Nasdaq Composite Index increased 27.94 points, or 0.53 percent, to 5,320.34.

On Friday, U.S. stocks closed lower as investors meditated on the newly-released jobs report that missed market expectations. Endi