US stocks follow European markets higher

Stock are higher a few minutes after the opening bell as investors welcomed the results of stress tanks of Spanish banks, as well as other positive news about Europe's economy.

The Dow Jones industrial average is up 72 points to 13,427. The Standard & Poor's 500 index is up eight points to 1,449. The Nasdaq is up 14 points to 3,130.

Monday is the first day of trading of the fourth quarter.

Markets around Europe rose.

However, credit rating agency Moody's might downgrade Spain's debt to junk status this week. That's likely to limit enthusiasm in Europe until the Moody's decision is known.

In the U.S., investors will be watching for reports on manufacturing and construction spending. Both are due at 10 a.m. Eastern.