US: Wall St gains on hopes of China-led recovery

[NEW YORK] US stocks rose at the open on Monday on hopes of a China-led recovery from an economic slump brought on by the coronavirus outbreak, with investors brushing aside a domestic surge in new cases of Covid-19 over the long weekend.

The Dow Jones Industrial Average rose 168.72 points, or 0.65 per cent, at the open to 25,996.08, while the S&P 500 opened higher by 25.28 points, or 0.81 per cent, at 3,155.29.

The Nasdaq Composite gained 152.75 points, or 1.50 per cent, to 10,360.38 at the opening bell, notching up another record high. 

REUTERS