Stocks open sharply higher on trade and stimulus hopes

U.S. stocks opened higher, putting key equity benchmarks on course for a third straight positive session, after reports that Germany was open to the use of deficit spending in the event of a recession. President Donald Trump’s remarks that the U.S economy was doing well also helped to draw investors into risky assets. The S&P 500

SPX, +1.10%

rose 1% to 2,918. The Dow Jones Industrial Average

DJIA, +1.03%

advanced 323 points, or 1.2%, to around 26,209. The Nasdaq Composite

COMP, +1.26%

was up 1.4% to 8,010. In company news, shares of Estee Lauder Cos.

EL, +8.51%

climbed 10% on Monday after its earnings beat expectations and the skincare company issued upbeat guidance.

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