US stocks open higher after AstraZeneca's vaccine results

The main US stock indices opened higher on Monday, following successive positive announcements of the Covid-19 vaccines.

AstraZeneca said that its vaccine, developed in collaboration with the University of Oxford, may reach 90% efficacy in preventing Covid-19.

AstraZeneca added that it will be able to provide 200 million doses of the vaccine by the end of this year, bearing in mind that the shot will be given in only one dose.

This comes after Pfizer and Moderna announced that their vaccines were effective by more than 90%, which raised hopes about a global economic recovery and the near end of the Covid-19 crisis.

As for stocks, Dow Jones rose 1% or 290 points to 29,553 as of 14:56 GMT, Nasdaq rose 0.7% or 87 points to 11,941, and S&P 500 rose 0.8% or 30 points to 3,586.