S&P 500 opens at fresh monthly highs above 3,200
|- Wall Street opened in the positive territory on Monday.
- S&P 500 climbs above 3,200 for the first time since early June.
- Three major S&P 500 sectors gain more than 1%.
Major equity indexes in the US opened sharply higher on Monday as vaccine hopes seem to be allowing investors to look past surging coronavirus cases in the US. As of writing, the S&P 500 (SPX) was up 0.8% on the day at 3,210, highest level since June 10th, the Dow Jones Industrial Average (DJI) was gaining 0.8% at 26,285 and the Nasdaq Composite (IXIC) was up 1.43% at 10,770.
Eyes on Q2 earnings figures
The Food and Drug Administration (FDA) announced on Monday that it has granted "Fast Track" designation to Pfizer and BioNTech for two of their coronavirus vaccine candidates. At the moment, Pfizer (PFE) shares are up nearly 3% on a daily basis.
The S&P 500's Technology Index, Consumer Discretionary Index and Healthcare Index are rising more than 1% as the top-performing major sectors. On the other hand, the defensive Utilities Index and the Real Estates Index are trading in the negative territory.
Meanwhile, investors will be paying close attention to second-quarter earnings figures this week. Earlier in the day, PepsiCo Inc reported a slightly better-than-expected quarterly net revenue of $15.95 billion.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.