US stocks have scored solid opening gains on hopes that political leaders will find a way to avoid the so-called "fiscal cliff" of automatic tax hikes and spending cuts in January.
After five minutes of trade on Monday, the Dow Jones Industrial Average was up 108.12 points, or 0.86 per cent, at 12,696.43.
The S&P 500-stock index advanced 16.34 points, or 1.20 per cent, to 1,376.22.
The tech-rich Nasdaq Composite leaped 33.96 points, or 1.19 per cent, to 2,887.09.
"Markets are looking to extend Friday's gains on hopes that progress will be made surrounding the fiscal cliff," said Wells Fargo Advisors analysts.
"Investors are encouraged after President Obama said on his trip to South-East Asia that he believes a budget deal will be reached."
On Friday, stocks rebounded slightly following a rough week as the White House opened talks with congressional leaders on the cliff and the deficit, with politicians on both sides signalling readiness to compromise.
The Dow rose 0.37 per cent and the S&P 500 added 0.48 per cent.
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