US stocks rise on hopes for Greek deal

New York - Wall Street stocks rose in opening trade on Monday, following European equity markets higher on hopes of a breakthrough in negotiations to avert a Greek debt default.

Five minutes into trade, the Dow Jones Industrial Average was at 18 143.20 up 127.25 points (0.71%).

The broad-based S&P 500 gained 15.46 (0.73%) at 2 125.45, while the tech-rich Nasdaq Composite Index advanced 39.25 (0.77%) to 5 156.25.

European markets surged on reports that the Greek government has shifted its position on pension reforms and some other issues that have held up the talks.