US stocks open higher amid rate hike prospects

US stocks opened slightly higher on Monday amid renewed hopes of another rate hike by the Fed following Yellen’s speech in Jackson Hole.

The DJIA rose 75 points, or 0.41%, to 18,469. The S&P 500 gained 8 points, or 0.38% at 2,177. The Nasdaq Composite added 15 points, or 0.29%, to 5,233.

Last Friday, Federal Reserve Chair Janet Yellen said the case for another interest rate hike has strengthened in recent months.