U.S. stocks opened higher and gained in the early trading session as investors expected the Senate will vote to extend tax cuts and several merger deals boosted confidence in equities.
The tax cut compromise between President Barack Obama and the Republicans was scheduled for its first vote in the Senate on Monday afternoon. The package including extension of tax cuts first introduced in the Bush administration for another two years, extension of unemployment insurance and one-year reduction in Social Security taxes, is expected to get pass easily.
The Dow Jones industrial average added 13.13 points, or 0.12 percent, to 11,423.45. The Standard & Poor's 500 index rose 2.10, or 0.17 percent, to 1,242.50 and the Nasdaq was up 0.98 points, or 0.04 percent, to 2,638.52.
