US stocks close higher on coronavirus vaccine hopes

US stock indices closed higher on Monday, lifted by news that indicate a near launch of safe Covid-19 vaccines.

US President Donald Trump expressed that if his Democratic rival Joe Biden wins the presidential election he will raise taxes by $4 trillion, while sources close to Biden confirmed that it would be $3.4 trillion.

The US Federal Reserve will start its monthly monetary policy meeting tomorrow, with strong bets for the Fed to keep the interest rate unchanged near zero.

To the oil market, WTI October futures at Nymex fell 0.2% or 9 cents, to close at $37.24 a barrel, after hitting a high of $37.6 and a low of $36.8.

Brent November futures fell 0.6% or 22 cents, to close at $39.61 a barrel, with a high of $40.09 and a low of $39.3.

As for stocks, Dow Jones rose 1.2% or 327 points to close at 27,993, after it hit a day high 28,086 and a low 27,718.

Nasdaq rose 1.8% or 203 points to 11,056, after it hit a high 11,118 and a low 10,982.

S&P 500 rose 1.3% or 42 points to 3,383, after it hit a high 3,403 and a low 3,363.