US STOCKS SNAPSHOT-S&P 500 hits record high at open

The S&P 500 hit record high at open on Monday on rising hopes of a U.S.-China trade deal, while bets that the Federal Reserve would lower borrowing costs at its policy meeting this week also brightened the mood.

The Dow Jones Industrial Average rose 82.27 points, or 0.31%, at the open to 27,040.33.

The S&P 500 opened higher by 9.57 points, or 0.32%, at 3,032.12. The Nasdaq Composite dropped 8,243.12 points, or 100.00%, to 0.00 at the opening bell.