Wall Street Climbs Higher on Megacap Boost

A Wall Street sign outside the New York Stock Exchange in New York City, N.Y., on Oct. 2, 2020. (Carlo Allegri/Reuters)

U.S. main stock indexes opened higher on Monday as beaten-down megacap growth stocks gained, while Meta Platforms climbed on reports of fresh layoffs.

The Dow Jones Industrial Average .DJI rose 18.12 points, or 0.05 percent, at the open to 33,887.39.

The S&P 500 .SPX opened higher by 6.16 points, or 0.15 percent, at 4,096.62, while the Nasdaq Composite .IXIC gained 40.97 points, or 0.35 percent, to 11,759.09 at the opening bell.