US stocks rise to start the week on vaccine hopes

US stock indices opened higher on Monday, amid optimism in the markets about coronavirus vaccines.

Wall Street suffered sharp losses during the past week, after a huge sell-off wave on tech shares.

Major companies such as Pfizer, Moderna and Johnson & Johnson announced continuing their trails on promising Covid-19 vaccines.

Pfizer stated that it is collaborating with BioNTech to provide an effective vaccine for the US before the end of 2020 at least.

Bearing in mind that US President Donald Trump said earlier this month that the US might have an effective and safe Covid-19 vaccine by October.

As for stocks, Dow Jones rose 1.3% or 383 points to 28,049 as of 15:20 GMT, Nasdaq rose 2.3% or 250 points to 11,099 , and S&P 500 rose 1.7% or 58 points to 3,399.