US stocks open higher, following gains in European markets; Family Dollar jumps on new bid

MarketsAssociated Press

U.S. stocks are opening higher, following gains in Europe.

The Dow Jones industrial average rose 94 points, or 0.6 percent, to 16,757 as of 9:34 a.m. Eastern time Monday.

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The Standard & Poor's 500 index rose 10 points, or 0.5 percent, to 1,965. The S&P 500 rose 1.2 percent last week.

The Nasdaq composite climbed 26 points, or 0.6 percent, to 4,490.

European markets also rose. Germany's DAX rose 1.4 percent and France's CAC-40 rose 1.2 percent.

A bidding war for Family Dollar sent that company's stock higher. Family Dollar rose 5 percent after Dollar General offered to pay about $9 billion for the discounter in an effort to trump Dollar Tree's bid.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.37 percent.