US markets: Dow, S&P open at record highs

By Ovunc Kutlu

ANKARA (AA) - The Dow Jones and the S&P 500 opened at record high levels in the US markets on Monday with technology and banking sectors on the rise despite the increase in volatility.

The blue-chip Dow index climbed to an all-time high of 33,483 points and the S&P 500 rose to a record of 4,056 with both indexes gaining around 1%.

The Nasdaq was also up as high as 13,604 before 9.45 a.m. EDT (1345GMT).

The records came despite VIX volatility index being up almost 3% at 17.81, still its lowest in more than a year.

It was technology and banking industries that drove the indexes up, fueled by President Joe Biden's massive infrastructure and jobs plan.

Movie theater chain AMC and electric carmaker Tesla soared 6% each, while Google's parent Alphabet gained 2.4%. Investment banking majors Goldman Sachs and Morgan Stanley were up near 1% apiece.

President Biden's $2.3 trillion plan that focuses on electric vehicle sales and employment in clean energy is expected to provide additional liquidity in markets and world's largest economy that is hit hard by the pandemic.