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7/6, 3:30 PM (Source: TeleTrader)
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Dow surges over 350 pts at opening amid vaccine hopes

Major stock markets in the United States opened higher on Monday as its last week's rally, shortened due to the Independence Day celebrations, continues. Earlier in the day, Regeneron confirmed it will start Phase 3 trial of its vaccine against the coronavirus, while Emergent signed an agreement with Johnson Johnson for making the drug substance investigational SARS-CoV-2 vaccine. The traders remain watchful of the Markit and non-manufacturing PMI data, which is to be revealed during the day.

The Dow Jones Industrial Average surged 1.49% or 385 points at the opening, with Walgreens Boots Alliance gaining 4.10%. The Nasdaq 100 went up by 1.36% or 140 points, with Tesla rising by 8.05%. The S&P 500 grew by 1.39% as TechnipFMC PLC increased by 6.18%.

The euro gained 0.77% compared to the dollar to sell for $1.13328 at 9:27 am ET.

Breaking the News / JR