Wall Street opens higher on vaccine hopes, Pepsi boost

Posted on July 13, 2020

The spread of the coronavirus disease (COVID-19) in New York

FILE PHOTO: Traders wear masks as they work on the floor of the New York Stock Exchange in response to the outbreak of the coronavirus disease (COVID19) in the Manhattan borough of New York, U.S., May 27, 2020. (REUTERS/Lucas Jackson)

BY DEVIK JAIN

Wall Street’s main indexes opened higher on Monday, with the Nasdaq notching up a new record high as investors cheered signs of progress in COVID-19 vaccine development and an upbeat start to the second-quarter earnings season by Pepsi.

The Dow Jones Industrial Average <.DJI> rose 149.77 points, or 0.57%, at the open to 26,225.07

The S&P 500 <.SPX> opened higher by 20.04 points, or 0.63%, at 3,205.08, while the Nasdaq Composite <.IXIC> gained 112.48 points, or 1.06%, to 10,729.92 at the opening bell.