Nasdaq hits fresh record in early trade

The major US stocks indices rose on Monday, as investors shrugged off the coronavirus crisis, amid optimism about developing an effective vaccine soon.

The US Food and Drug Administration announced that it gave Pfizer's new experimental coronavirus vaccine the fast track designation.

Otherwise, investors are focusing on companies' announcements of their quarterly results for the second quarter, as PepsiCo reported a drop in revenues.

Nasdaq has been lifted to a new record high after Tesla and Apple's shares surged, as the two stocks are heading for a new record closing.

As for stocks, Dow Jones surged 1.1% or 295 points to 26,369 as of 14:15 GMT, Nasdaq jumped 1.3% or 136 points to 10,754, and S&P 500 rose 0.9% or 30 points to 3,215.