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US: Nasdaq hits record high at open on China stimulus hopes, drop in new virus cases

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The Dow Jones Industrial Average rose 80.51 points, or 0.28 per cent, at the open to 29,312.70.

[NEW YORK] Nasdaq hit an all-time high at the open on Wednesday on signs of slowing coronavirus infections and expectations that China would take more measures to bolster its virus-hit economy.

The Dow Jones Industrial Average rose 80.51 points, or 0.28 per cent, at the open to 29,312.70.

The S&P 500 opened higher by 10.10 points, or 0.30 per cent, at 3,380.39. The Nasdaq Composite gained 50.07 points, or 0.51 per cent, to 9,782.81 at the opening bell.

REUTERS