US stock market opens higher

NEW YORK (AA) - The stock market opened higher Monday to begin the first trading day of the new week with gains.

The Dow added 11 points to open at 19,854 and the S&P 500 was up almost two points at 2,260. The Nasdaq rose three points to start trading at 5,440.

The market and investors await Federal Reserve Chair Janet Yellen's speech later on Monday.

Yellen's statements may provide a hint to investors about the number of possible rate hikes the central bank can make next year.

The Fed increased its benchmark interest rate 0.25 percent last Wednesday, marking its first rate hike since last December and only the second in a decade.

The bank had also noted that it now expects to increase rates three times in 2017, up from the previous projection of two rate hikes.