US: Stocks higher out the gate, major indexes up around 1% or more

[NEW YORK] Wall Street's main indexes opened higher on Thursday (Oct 14) after big banks reported better-than-expected quarterly results, helping investors to look away from inflation concerns.

That said, shortly after the open, the S&P 500, Dow and Nasdaq Composite are all gaining around 1% or more, although the S&P Banks index is slightly red.

Of note, the SPX and IXIC ended three-day losing streaks on Wednesday, while the Dow fell for a fourth-straight day.

All major S&P 500 sectors are higher early Thursday with tech and healthcare the leading gainers.

Financials, however, are lagging to the upside.

Indeed, with the US 10-Year Treasury yield on track to fall for a third-straight day, growth is outperforming value.

REUTERS