US: S&P 500, Nasdaq open higher on stimulus, dovish Fed hopes

[NEW YORK] The S&P 500 and Nasdaq rose at the open on Monday as investors shrugged off surging Covid-19 cases and US-China tensions, betting instead on more stimulus and a dovish signal from the Federal Reserve to revive a battered domestic economy.

The S&P 500 opened higher by 4.21 points, or 0.13 per cent, at 3,219.84, and the Nasdaq Composite gained 58.52 points, or 0.56 per cent, to 10,421.70 at the opening bell.

The Dow Jones Industrial Average, on the other hand, fell 22.22 points, or 0.08 per cent, at the open to 26,447.67. 

REUTERS