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 .DJI rose 82.27 points, or 0.31%, at the open to 27,040.33.

The S&P 500 .SPX opened higher by 9.57 points, or 0.32%, at 3,032.12. The Nasdaq Composite .IXIC gained 42.65 points, or 0.52%, to 8,285.77 at the opening bell.

Reuters (Reporting by Medha Singh in Bengaluru; Editing by Anil D'Silva)