US Stocks Edge Up On Higher Oil Prices, Wal-Mart Deal

Fahad Shabbir (@FahadShabbir) Published August 08, 2016 | 10:32 PM

NEW YORK,(APP - UrduPoint / Pakistan Point News - 8th August, 2016) - Wall Street stocks opened slightly higher Monday, adding to records as oil prices rose and Wal-Mart Stores edged up on news of its acquisition of online retailer Jet.com. Oil prices advanced as the Organization of Petroleum Exporting Countries said it would hold informal talks next month, potentially signaling tougher action in response to weak oil prices. Wal-Mart gained 0.

2 percent after announcing a $3.3 billion purchase of Jet.com, part of its efforts to counter Amazon in the booming e-commerce market. Five minutes into trade, the Dow Jones Industrial Average was at 18,555.24, up 0.1 percent. The broad-based S&P 500 added 0.1 percent at 2,184.65, while the tech-rich Nasdaq Composite Index gained 0.1 percent to 5,224.87. The S&P 500 and Nasdaq finished at records Friday following a better-than-expected US jobs report.