LONDON - Global shares flat-lined on Friday as rising US and European COVID-19 hospitalizations tempered the euphoria over a promising vaccine.

Wall Street's main indexes opened higher on Friday as Disney and Cisco jumped after reporting upbeat quarterly results, although investors remained worried about restrictions due to record surges in coronavirus cases.

The Dow Jones Industrial Average rose 123.73 points, or 0.43 percent, at the open to 29,203.90.

The S&P 500 opened higher by 15.56 points, or 0.44 percent, at 3,552.57, while the Nasdaq Composite gained 85.35 points, or 0.73 percent, to 11,794.94 at the opening bell.

However, the pan-European Stoxx 50 was down 0.2 percent, just above its opening levels. MSCI's all-country equity index slipped 0.1 percent.

“You had the news overnight in the US on COVID, which is not that good and that ... provides an opportunity for investors to book some profit post-Pfizer and post-US elections,” said Francois Savary, chief investment officer at Swiss wealth manager Prime Partners.

In Europe, too, the number of hospitalizations are now higher than at the peak of the first wave and officials said measures to control infections must continue.

World stocks are up 1.3 percent for the week, however. They reached record highs on Monday when pharma giant Pfizer announced its vaccine had been effective in 90 percent of cases. Russia followed up by reporting its vaccine trial, too, had shown promise.

European markets lost 0.1 percent to 0.7 percent, but the STOXX pan-regional index is set for a second week of big gains. It’s up 5 percent so far this week as the vaccine news induces more investors to buy shares in banks and travel firms.

Japan's Nikkei 225 fell 0.57 percent.

Some investors saw the pullback as a buying opportunity.

“My view is this is the dark just before dawn,” said Michael Frazis, portfolio manager at Frazis Capital Partners in Sydney.

“You’ve got the second wave of coronavirus, new sets of shutdowns, clear problems around the world, travel dropping off again ... But at the same time, we have the strongest possible evidence that we do have a vaccine.”