Stocks opened higher on Monday as stronger-than-expected quarterly results from No. 2 U.S. home improvement chain Lowe's Cos Inc boosted hopes the recession was abating and spending was stabilizing.

Positive broker comments on such stocks as Bank of America Corp , along with a more than 2 percent gain in oil prices, also underpinned the stock market.

The Dow Jones industrial average <.DJI> rose 103.54 points, or 1.25 percent, to 8,372.18. The Standard & Poor's 500 Index <.SPX> gained 12.21 points, or 1.38 percent, to 895.09. The Nasdaq Composite Index <.IXIC> put on 19.41 points, or 1.16 percent, to 1,699.55.

(Reporting by Leah Schnurr; editing by Jeffrey Benkoe)