The S&P 500 and the Dow kicked off 2021 at record levels on Monday, building on a rally that has been powered by hopes of a vaccine-driven recovery in the global economy.

The Dow Jones Industrial Average rose 21.0 points, or 0.07%, at the open to 30627.47 and the S&P 500 rose 8.5 points, or 0.23%, at the open to 3764.61.

The Nasdaq Composite rose 70.2 points, or 0.54%, to 12958.522 at the opening bell.