Wall Street opens higher as tax cut hopes outshine trade fears

(Reuters) - U.S. stocks opened higher on Monday as hopes for a fresh round of tax cuts overshadowed fears of an escalation in the trade war between the United States and China.

The Dow Jones Industrial Average rose 75.37 points, or 0.29 percent, at the open to 25,991.91.

The S&P 500 opened higher by 9.71 points, or 0.34 percent, at 2,881.39. The Nasdaq Composite gained 37.03 points, or 0.47 percent, to 7,939.57 at the opening bell.

(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta)