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

(Reuters) – The S&P 500 and Nasdaq rose at the open on Monday as investors shrugged off surging COVID-19 cases and U.S.-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 .SPX opened higher by 4.21 points, or 0.13%, at 3,219.84, and the Nasdaq Composite .IXIC gained 58.52 points, or 0.56%, to 10,421.70 at the opening bell.

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