US stocks surge in opening trade

Major US equity indices opened higher as investors cheered strong quarterly results from Goldman Sachs Group and Netflix, and mostly in-line with estimates release of inflation data from the US. Government data released on Tuesday showed US headline inflation, as measured by CPI, matched consensus estimates and rose 0.3% in September. 

At the time of writing the Dow Jones Industrial Average jumped over 100 points to 18,200, while the broader S&P 500 Index advanced 15 points to 2,142. Meanwhile, tech-heavy Nasdaq composite climbed nearly 1% or 50 points to 5,250.

Meanwhile, rebound in oil prices on Tuesday also contributed to improving investor risk-appetite and added to the earlier gains in US equity markets. 

In other markets, European indices were trading with strong gains of anywhere between 1-1.5%, while the overall US Dollar Index managed to revert earlier drop and turn positive for the day, eventually weighing on dollar-denominated commodities – like gold, which continued with its struggle to recover back above the very important 200-day SMA.

 

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