US stocks trade with strong gains, upbeat corporate results supportive
|Major US equity indices opened with strong gains on Tuesday and were supported by upbeat earnings reports from blue-chip companies.
Strong corporate results helped offset recent jitters over the pace of rising US bond yields and underpinned tepid optimism during the opening hour of trade. Moreover, higher oil prices and the US Dollar have calmed down to rational levels and the market is able to positively respond to the developments as investors work through the earnings season.
However, concerns over escalating US-China trade tensions and other geopolitical worries might continue to keep a lid on any runaway rally, at least for the time being. Investors now await the Treasury Department’s semiannual currency report, due later Tuesday, for any clues if the US deems China as a currency manipulator, which might eventually drive investors' appetite for riskier assets - like equities.
At the time of writing this report, the Dow Jones Industrial Average was up by around 180-points to 25,435 and the broader S&P 500 Index rose 19-points to 2,770. Meanwhile, tech-heavy Nasdaq Composite Index rallied over 75-points to move back above the 7,500 round figure mark.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.