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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. 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."


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