NEW YORK: US stocks opened higher Monday following gains on European markets and after Ben Bernanke said a still-weak job market merited the Federal Reserve keeping in place its easy money policy.
Five minutes into trade the Dow Jones Industrial Average was up 103.53 points (0.79 percent) at 13,184.26.
The broad-market S&P 500 gained 11.58 points (0.83 percent) to 1,408.69, while the tech-rich Nasdaq Composite added 26.71 (0.87 percent) to 3,094.63.
"We cannot yet be sure that the recent pace of improvement in the labor market will be sustained," Bernanke said in a speech outsideWashington.
"Further significant improvements in the unemployment rate will likely require a more-rapid expansion of production and demand from consumers and businesses, a process that can be supported by continued accommodative policies."