Wall Street opens higher on hopes of vaccine-fueled recovery

Posted on December 30, 2020

A Christmas tree is pictured outside the New York Stock Exchange during the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., December 16, 2020.

REUTERS/Carlo Allegri

By Devik Jain, Reuters

U.S. stocks opened higher on Wednesday as investors hoped that COVID-19 vaccine rollouts and a bigger fiscal aid would help the world’s largest economy recover from a pandemic-fueled slump in 2021.

The Dow Jones Industrial Average rose 79.42 points, or 0.26%, at the open to 30,415.09. The S&P 500 opened higher by 9.15 points, or 0.25%, at 3,736.19, while the Nasdaq Composite gained 56.29 points, or 0.44%, to 12,906.51 at the opening bell.