US stocks open higher as calm returns to market

NEW YORK - U.S. stocks opened higher Monday morning as calm returned to global markets after a spasm of fearful selling last week.

The Dow Jones industrial average rose modestly in early trading Monday, starting from its lowest opening value since December.

Bond investors appeared less concerned about the finances of some troubled European countries. Bond yields fell for Italy and Spain, meaning that they appear less likely to default.

Stocks in Europe were mixed. Asian shares had closed sharply lower, extending a selloff from Friday caused by a surprisingly grim report on U.S. job creation in May. (See separate story.)

The Dow was up 23 points at 12,141 in the early going. The Standard & Poor's 500 index is up 4 at 1,282. The Nasdaq composite index is up 22 at 2,769.