Investing.com – U.S. stock markets opened higher on Wednesday, with the financial sector leading gains and helping to offset fears over a slowdown in global growth.
During early U.S. trade, the Dow Jones Industrial Average was up 0.42%; the S&P 500 index rose 0.63% and the Nasdaq Composite index advanced 0.74%.
Shares of State Street Bank rose 10% after an upbeat earnings outlook from the bank offset worries over the global economy, while electronics firm, Cisco Systems rose 1.7%.
Earlier in the day, the U.S. Mortgage Bankers Association said mortgage applications increased by a seasonally adjusted 6.7% in the week ending July 2, after advancing 8.8% the preceding week.
Its seasonally adjusted Purchase Index decreased 2.0% from one week earlier.
Across the Atlantic, European stock markets were up: France’s CAC 40 rose 0.56%; Germany's DAX climbed 0.15%; Britain's FTSE 100 rose 0.09%; and the EURO STOXX 50 advanced 0.77%.
Earlier Wednesday, official data showed that German factory orders fell unexpectedly in May, for the first time in 5 months, due in large part to a drop in demand from euro zone neighbors.
Also Wednesday, official data showed that economic growth in the euro zone remained an unrevised 0.2% in the first quarter, in line with expectations.
During early U.S. trade, the Dow Jones Industrial Average was up 0.42%; the S&P 500 index rose 0.63% and the Nasdaq Composite index advanced 0.74%.
Shares of State Street Bank rose 10% after an upbeat earnings outlook from the bank offset worries over the global economy, while electronics firm, Cisco Systems rose 1.7%.
Earlier in the day, the U.S. Mortgage Bankers Association said mortgage applications increased by a seasonally adjusted 6.7% in the week ending July 2, after advancing 8.8% the preceding week.
Its seasonally adjusted Purchase Index decreased 2.0% from one week earlier.
Across the Atlantic, European stock markets were up: France’s CAC 40 rose 0.56%; Germany's DAX climbed 0.15%; Britain's FTSE 100 rose 0.09%; and the EURO STOXX 50 advanced 0.77%.
Earlier Wednesday, official data showed that German factory orders fell unexpectedly in May, for the first time in 5 months, due in large part to a drop in demand from euro zone neighbors.
Also Wednesday, official data showed that economic growth in the euro zone remained an unrevised 0.2% in the first quarter, in line with expectations.