NEW YORK, N.Y. – The U.S. stock market is opening higher, led by gains in energy companies.
Exxon Mobil rose 1 per cent after its earnings came in ahead of what investors were expecting.
The Dow Jones industrial average increased 20 points, or 0.1 per cent, to 17,192 shortly after trading began Monday.
The Standard & Poor’s 500 index rose five points, or 0.3 per cent, to an even 2,000. The Nasdaq rose four points, or 0.1 per cent, to 4,640.
U.S. consumer spending edged lower in December as vehicle sales slowed and more Americans chose to save rather than spend.
Lennox International jumped 2 per cent after the manufacturer of furnaces and air conditioners reported earnings that beat expectations.
Oil rose $1.03 to $49.27 a barrel. Crude had surged on Friday on expectations of lower supplies.