Policy: Economy

Stocks open higher, lifted by Iran nuclear deal

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Associated Press,Iran,Economy,Budgets and Deficits,Financial Markets

NEW YORK (AP) — The stock market is opening higher after world powers and Iran reached a deal on the country's nuclear program and as Wall Street was poised to extend seven weeks of gains.

The Dow Jones industrial average rose six points to 16,071 in early trading Monday. The Standard & Poor's 500 index rose two points to 1,807. The Nasdaq is up 12 points to 4,004.

Sunday's deal with Iran was the first significant progress in years to curtail that country's nuclear ambitions. It will reduce the risk of conflict, improve trade and could boost global oil supplies. The energy sector was the biggest decliner among the S&P 500's 10 industry groups.

Walmart rose slightly after the company announced its CEO Mike Duke is stepping down.

Wall Street continued to be lifted by the Federal Reserve's super easy monetary policy, signs of gradual improvement in the U.S. economy and rising company profits.

Futures augured more gains for U.S. stocks. Dow and S&P 500 futures were up 0.4 percent and 0.3 percent, respectively.

In energy trading, benchmark U.S. crude for January delivery was down $1.32 to $93.52 a barrel in electronic trading on the New York Mercantile Exchange as the nuclear deal made it more likely that the sanctions choking Iranian oil exports will eventually be lifted. The contract fell 60 cents to close $94.84 on Friday.

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