(Reuters) - U.S. stocks opened higher on Monday on signs of progress in developing a COVID-19 vaccine and a flurry of multi-billion dollar deals, including reports of Oracle winning the battle for the U.S. arm of TikTok.

The Dow Jones Industrial Average rose 53.10 points, or 0.19%, at the open to 27,718.74.

The S&P 500 opened higher by 22.59 points, or 0.68%, at 3,363.56, while the Nasdaq Composite gained 156.60 points, or 1.44%, to 11,010.14 at the opening bell.