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.
TheStreet’s Fundamentals of Investing Course will teach you the keys to making the right decisions in any market.
TheStreet’s Personal Finance Essentials Course will teach you money management basics and investing strategies to help you avoid major financial pitfalls.
TheStreet Courses offers dedicated classes designed to improve your investing skills, stock market knowledge and money management capabilities.
More from Video
Trump Economy to Be Scrutinized in Democratic Debates
The Democrats are gearing up to debate each other, but the president's economic agenda will be under scrutiny.
The U.S. Is Producing Less Than 1% of its Uranium, That Should Shock People
Mark Chalmers, CEO of Energy Fuels Resources, zeroes in on why it's shocking that the U.S. is producing less than 1% of its Uranium.
How Millennials Are Shaking Up the Grocery Industry
Grocery Outlet's CEO gives an inside look at how the company is attracting millennials.
FedEx, Micron, Lennar Earnings: What Investors Should Watch For
Here's what investors should look for FedEx's, Micron's, Lennar's earnings reports, according to Jim Cramer's Action Alerts PLUS' team.