U.S. stock benchmarks on Wednesday opened at or near records after China launched fresh measures to support local businesses that are struggling because of the coronavirus outbreak.

The Nasdaq Composite Index rose 0.5% to reach an intraday record at 9,787.74, as the Dow Jones Industrial Average rose 100 points, or 0.3%, at 29,334, the S&P 500 index gained 0.4% at 3,383, just below its own intraday record. Shares of Tesla were adding to its record rally after an analyst raised his price forecast for the electric-vehicle maker.

On Wednesday, investors also appeared heartened by comments from China's Ministry of Industry and Information Technology, which said Beijing would help companies to identify weak links in supply chains, The Wall Street Journal reported.

Source : Marketwatch