US opens higher on stimulus, vaccine hopes

Thursday, 08. October 2020 15:30

Major stock markets in the United States opened higher on Thursday amid new developments in COVID-19 vaccine research and negotiations over the stimulus aimed at combating the economic crisis. President Donald Trump confirmed the administration was discussing a relief for the airline industry and approvals of Regeneron and Elly Lili's virus-treatment programs. He also urged Congress to approve an aid package for small businesses. Meanwhile, the Organization of the Petroleum Exporting Countries (OPEC) predicted in its latest report the global primary energy demand will increase by 24.9% by 2045.

The Dow Jones Industrial Average opened 0.43% or 122 points higher, while the S&P 500 advanced 0.49%. International Business Machines Corporation was the top performer on both indexes, gaining 6.85%. The Nasdaq 100 rose by 0.66% with Paychex growing by 3.51%.

The euro lost 0.16% to the dollar to exchange hands for $1.17446 at 9:28 am ET. A minute later, the pound sterling stood flat against the greenback to sell for $1.29205.

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Breaking the News / JR