US stocks surge at open as Irma, N. Korea fears ease

Haresh Menghani FXStreet

Major US equity indices opened sharply higher on Monday as investors breathe a sigh of relief that N. Korea did not conduct another nuclear test over the weekend.

Investors also cheered the big news that Irma, which made landfall in the Florida Keys on Sunday, had weakened to a tropical storm and the devastations were so far not as catastrophic as had been feared.

There were no major economic data due for releases on Monday and hence, fading risk-aversion trade boosted US equity markets during the opening hour of trade.

At the time of reporting, the Dow Jones Industrial Average surged around 185-points and moved back closer to the 22K psychological mark. Meanwhile, the broader S&P 500 Index added nearly 20-points to 2,480, while tech-heavy Nasdaq Composite Index climbed 70-points and outperformed the broader indices.

The N. Korean episode might still be far from over and the tensions might return as the UN Security Council votes for tougher sanctions on the isolated nations. N. Korea's foreign ministry, via a statement published by the official KCNA news agency, has already said that the DPRK shall make absolutely sure the US pays due price if it rigs up for illegal and unlawful resolution on harsher sanctions.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

EUR/USD gathers traction, approaches 1.1800

EUR/USD manages to reverse Tuesday’s pullback, advancing to two-day highs near the 1.1800 hurdle in the latter part of Wednesday’s session. The pair’s decent uptick comes on the back of the modest retracement in the US Dollar, as investors continue to closely follow developments on the trade front and news from the White House in the wake of President Trump’s SOTU speech.

GBP/USD challenges multi-day highs near 1.3530

GBP/USD leaves behind the previous day’s decline and regains fresh upside traction on Wednesday, surpassing the 1.3500 barrier in a context of a modest decline in the Greenback and a generalised improved mood in the risk-linked space. Meanwhile, the US tariff narrative continues to dictate the mood among market participants after Presidet Trump’s SOTU speech failed to surprise markets.

Gold remains bid and close to $5,200

Gold buyers are returning to the fold on Wednesday, targeting the $5,200 area and possibly beyond, after Tuesday’s corrective dip from monthly highs. The rebound in the precious metal comes as the US Dollar loses traction, with Trump’s SOTU speech offering little fresh direction and AI-related nerves continuing to ease.

Crypto Today: Bitcoin, Ethereum, XRP test rebound strength as ETF inflows return

Bitcoin, Ethereum and Ripple are gaining traction at the time of writing on Wednesday, amid persistent market doldrums. The Crypto King is up over 2% intraday, trading above $65,000 from the day’s opening of $64,058.

Nvidia earnings to influence AI trade and broader market sentiment

For the last three years, Nvidia has been the engine of the AI boom, and now Wall Street is watching to see whether that momentum can keep going. High-growth stocks have been struggling to maintain their bullish trend in 2026.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.