Rising oil prices and gains in European markets play role in stock market opening higher
NEW YORK – The U.S. stock market opened higher Friday with rising oil prices and with gains in European markets.
The Dow Jones industrial index rose 0.73 percent to begin the day at 17,119 points. The Nasdaq increased 0.91 percent to start the day at 4,704 points and the S&P 500 rose 0.80 percent to begin the day at 2,005 points.
The rise in indexes came after the stock markets in France and Germany recorded around 3 percent gains on Friday.
In addition, the rise in oil prices played a major factor.
When the U.S. stock market opened, the American benchmark West Texas Intermediate traded around $38.70 per barrel with a 2.5 percent increase, while the global benchmark Brent crude traded around $40.69 a barrel with a two percent rise.