U.S. Stocks opened Tuesday higher, as investors grew more optimistic that the European policy makers will make a significant progress and prevent the continent’s debt crisis from getting worse, in additon American confidence regarding business conditions, job creation and personal income rose below median estimates in September.
Financials shares advanced this morning, where we saw bank of America Corp and JP Morgan Chase & Co adding nearly 2.50 percent and 3.82 percent each following gains among European lenders.
Moreover, Commodities gained as well, where Chevron Corp and Alcoa jumped 2.479 percnet and 3.22 percent respectively, while Apple Inc rose 0.86 percnet after JPMorgan analyst said in a research the company’s decision to cut the iPad orders to vendors does not reflect the views of the securities firm’s U.S team.
On the other side, Walgreen Co slipped 4.14 percent, after the largest drugstore chain in the United States said a failure to renew a contract to provide prescriptions for Express Scripts Inc’s customers will slash its 2012 profits, Family Dollar Stores Inc shed 1.50 percent after the company announced big management changes.
The Dollar index which measures the performance of the U.S. dollar against a basket of currencies including the Euro, the Pound, and the Yen, slid from today's opening level of 77.99 to currently trade at 77.53 recording its highest level at 78.24 and its lowest at 77.48.
Gold prices rose to reach $1657.20 per compared to the opening level of $1618.29 an ounce. Oil dropped to reach $83.44 after opening at $80.00 per barrel.
At 10:02 EST, the best performing sectors within the Dow were the Industrials shares next to Oil & Gas and Technology shares respectively. The S&P 500's best performing sectors were Financials, Oil & Gas and Industrials shares respectively.
The Dow Jones Industrial Average rose 250.97 points or 2.27 percent reaching 11294.83 points, The S&P 500 rose 25.27 points or 2.17 percent reaching 1188.22 points. The NASDAQ Composite rose 45.77 points or 1.82 percent reaching 2562.46 points, Data as of 10:01 New York Time.