The US bourse is set to open higher as European leaders get ready to meet.

New York - US stocks opened higher on Monday, with the S&P 500 hitting a new intraday record amid corporate merger activity and as hopes grew for more monetary stimulus in European markets.

The Dow Jones industrial average rose 64.67 points or 0.38 percent, to 17,065.89, the S&P 500 gained 8.29 points or 0.42 percent, to 1,996.69 and the Nasdaq Composite added 26.17 points or 0.58 percent, to 4,564.72. - Reuters