US stocks open higher after large quarterly gains

The major US stocks indices opened higher Wednesday, in the first session of the third quarter and July, after posting strong quarterly gains for the second quarter yesterday.

The ADP data showed today the US private sector has added 2.3 million new jobs in June, less than forecasts of 2.8 million.

The coronavirus crisis continues to pressure global markets and economies, while the major global companies and medical research centers are racing to develop a vaccine and treatment for the deadly disease.

The American pharmaceutical company, Pfizer, unveiled today promising results of preliminary human trails with a coronavirus vaccine it is developing.

The US Federal Reserve will release later today the minutes of its last meeting, during which FOMC members discussed monetary policy and the economic outlook.

As for stocks, Dow Jones rose 0.4% or 120 points to 25,907 as of 14:29 GMT, Nasdaq rose 0.5% or 55 points to 10,114 points, and S&P 500 rose 0.6% or 20 points to 3,120.