U.S. stocks opened higher on Monday, amid rising oil prices. West Texas Intermediate, the U.S. benchmark price for oil, rose over 2 percent and remained over $47 a barrel. The analysts at Goldman Sachs (GS - Get Report) raised their price target on oil, saying the commodity is expected to rise to $50 a barrel during the second half of the year. 'We're going to see a little bit more of a balance between demand and supply in the United Sates,' said Anthony Chan, chief economist at JPMorgan Chase. 'For example, we've seen that we've gone from almost 9.7 million barrels of production a day to about 8.8 million.' Investors also grappled with fresh concerns about China's economy as retail sales rose 10.1 percent in April, missing estimates of 10.5 percent. Industrial production grew 6 percent, falling short of forecasts of 6.5 percent. Finally, Pfizer (PFE - Get Report) agreed to acquire Anacor Pharmaceuticals (ANAC for $99.25 a share or $5.2 billion in cash. Anacor shares surged some 55 percent on Monday. The deal is expected to close in third quarter. TheStreet's Scott Gamm reports from Wall Street.
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