US: Stocks open higher after surge in Chinese shares
[NEW YORK] US stocks opened higher Wednesday, continuing to benefit from upward momentum following a jump in the Chinese stock market.
Five minutes into trade, the Dow Jones Industrial Average was at 17,944.84, up 26.69 points(0.15 per cent).
The broad-based S&P 500 rose 2.96 (0.14 per cent) to 2,112.75, while the tech-rich Nasdaq Composite Index climbed 12.91 (0.25 per cent) to 5,158.04.
US stocks have risen the last two sessions, adding to a strong October rally. Briefing.com analyst Patrick O'Hare said there is talk the market is overbought, but it is "running headlong" into claims of a late-year surge "and one last mad dash perhaps before the Fed lifts the target rate for the fed funds rate."
AFP
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Asia: Markets build on rally as US jobs data boost rate cut hopes
Zero-day options boom will only grow even as some investors fear disaster
Singapore stocks open in the black on Monday; STI up 0.3%
Stocks to watch: Singtel, Venture Corp, ARA H-Trust, YHI International, LHN
Europe: Shares end higher on tech support; banks slide
US: Stocks rally on cooler hiring numbers