US: Stocks jump ahead of Fed rate move

[NEW YORK] US stocks jumped more than one percent in early trade Tuesday, chasing a European rally that comes ahead of a widely expected interest rate hike by the Federal Reserve.

A rebound in crude prices boosted the buying, with oil industry shares leading the market higher.

About 35 minutes into trade, the Dow Jones Industrial Average was up 199.26 points (1.15 percent) at 17,567.76.

The broad-based S&P 500 advanced 25.91 (1.28 percent) to 2,047.85, while the tech-rich Nasdaq Composite added 67.12 (1.36 percent) at 5,019.35.

AFP