NEW YORK (AA) – The stock market opened with gains Monday to begin the new week on a higher note as the positive sentiment in the market was fueled by rising oil prices and last week's strong job data.
The Dow Jones gained seven points to 18,551. The S&P 500 was up one point to 2,184 -- marking a new all-time record-high level at opening. The Nasdaq was up three points to 5,224.
Crude prices rose around two percent Monday, and this week will see the oil market focusing on monthly reports from OPEC and the International Energy Agency.
At the opening bell, the American oil benchmark was up 2.2 percent to $42.67 per barrel, while international benchmark Brent crude was trading at $45.02 -- gaining 1.9 percent.
The American economy added 255,000 jobs in July, the Department of Labor announced last Friday, beating the market expectation of 180,000. In addition, average job gains in the last three months were up to 190,000 from 147,000.