Financial news

S&P 500 hits record high at open

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Via Reuters Finance

FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., October 25, 2019. REUTERS/Brendan McDermid

(Reuters) – The S&P 500 hit record high at open on Monday on rising hopes of a U.S.-China trade deal, while bets that the Federal Reserve would lower borrowing costs at its policy meeting this week also brightened the mood.

The Dow Jones Industrial Average .DJI rose 82.27 points, or 0.31%, at the open to 27,040.33.

The S&P 500 .SPX opened higher by 9.57 points, or 0.32%, at 3,032.12. The Nasdaq Composite .IXIC gained 42.65 points, or 0.52%, to 8,285.77 at the opening bell.

(This story corrects paragraph 3 to show the Nasdaq gained 42.65 points at the open, not dropped 8,243.12 points)

Reporting by Medha Singh in Bengaluru; Editing by Anil D’Silva

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