US open: Stocks rise as global tensions ease
US stocks opened higher as geopolitical tensions eased and as Federal Reserve vice chairman Stanley Fischer delivered dovish remarks.
Soothing global concerns was news that Russia had concluded its military exercises near Ukraine's border and that Israel and militants in the Gaza Strip had agreed to an Egyptian-brokered ceasefire.
In other geopolitical developments, Iraq's president on Monday asked Haider al-Abadi, the Shi'ite coalition's nominee for prime minister, to form a government.
The US have conducted three separate air strikes in the northern region of the country and, alongside Turkey and Britain, have also provided food and water supplies to more than 40,000 members of the Yazidi religious minority who are under the threat of Islamic State, formerly known as Isis, militants.
Remarks from Fischer were also supporting stocks after he suggested that monetary stimulus may still be needed to bolster the recovery.
He said that the US and wider global economic recoveries since the financial crisis have been "disappointing".
He said that while this may partly represent temporary factors, "it is also possible that the underperformance reflects a more structural, longer-term shift in the global economy".
In corporate news, deals website Priceline shares dropped after the firm said third-quarter adjusted earnings per share would be $19.60-21.10, below the $21.28 consensus estimate.
US buyout firm TPG Capital has offered A$3.4bn for the world's second-biggest listed winemaker Treasury Wine Estates, based in Australia.
The 10-year Treasury yield rose one basis point to 2.43%.
West Texas Intermediate crude futures climbed 0.68% to $98.32 per barrel on the NYMEX.
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