NEW YORK - US STOCKS opened higher on Monday on cautious trading amid hopes US President George W. Bush would order the rescue of US automakers from the brink of bankruptcy and ahead of an expected interest rate cut.

The Dow Jones Industrial Average rose 40.14 points (0.47 per cent) to 8,669.82 in opening trades and the Nasdaq composite was up 2.15 points (0.14 per cent) to 1,542.87.

MADRID - THE International Monetary Fund chief warned on Monday of a global recession but said the world economy could begin to recover in late 2009 or early 2010 after 'a very difficult year.'

'The global outlook will continue to deteriorate,' IMF managing director Dominique Strauss-Kahn said. 'The possibility of global recession is really in front of us.'

ORAN (Algeria) - THE president of Opec said on Monday he hoped Russia would join the oil producers' cartel in order to boost the group's impact on the crude market.

'We would like appropriate support on the ground from Russia,' Chakib Khelil told reporters here ahead of an Opec ministerial meeting Wednesday.