US stocks expected to open higher amid hope for economic revival from the coronavirus pandemic

8.00am: Another record push expected US stocks are expected to open higher on Monday for the eighth successive session amid hope for an economic revival from the coronavirus (COVID-19) pandemic backed by central bank support. The Federal Reserve’s commitment to tolerate inflation and keep interest rates low, signs of progress in developing vaccines and treatments for COVID-19 and demand for tech-focused stocks have helped the S&P 500 and Nasdaq Composite hit consecutive all-time highs recently. Meanwhile, the blue-chip Dow Jones Industrials Average is within 3% of its record close. Craig Erlam, senior market analyst at OANDA Europe commented: “Jerome Powell's soothing tones are continuing to provide that calming reassurance for investors, even as we head into what could be a rollercoaster ride in the final months of the year. Investors as ever are optimistic. A vaccine is on the way and perhaps Biden wouldn't be such a bad thing for the markets after all. A multi-trillion dollar US stimulus package is just the icing on the cake.” The US presidential campaign is also set to take center-stage in the coming weeks with market volatility expected to spike ahead of polling in November. Erlam added: “We're now just over two months from the US election and with Trump pinning his hopes on being the right person to get the economy booming again, a few knockout jobs reports won't do him any harm. And looking at the polls, he needs any help he can get.” Four things to watch for on Monday: Aimmune Therapeutics Inc (NASADAQ:AIMT.O) more than doubled premarket after Swiss food group Nestle offered to pay $2 billion for full ownership of the peanut allergy treatment maker to expand its fast-growing health science business Apple Inc (NASDAQ:AAPL) and Tesla Inc (NASDAQ:TSLA) as pre-announced stock splits for both took effect Berkshire Hathaway Inc (NYSE:BRKa) has bought a 5% stake in each of Japan’s five biggest trading houses, together worth over $6 billion, marking a departure for chairman Warren Buffett as he looks beyond the US to diversify his conglomerate Philips said the US Department of Health has cancelled most of an order for 43,000 ventilators, leading the Dutch medical equipment maker to cut its 2020 earnings outlook