US open: Major indices look to extend Q4 relief rally

dl exchange place wall st street pl new york city nyc ny nyse stock exchange dow jones sp nasdaq finance dollar dollars us usa united states of america — Exchange PlaceSharecast photo / Josh White

Wall Street stocks were in the green early on Tuesday, extending solid gains recorded in the first session of the Q4.

As of 1510 BST, the Dow Jones Industrial Average was up 1.88% at 30,046.34, while the S&P 500 was 2.17% firmer at 3,758.31 and the Nasdaq Composite came out the gate 2.58% stronger at 11,094.02.

The Dow opened 555.45 points higher on Tuesday, with the blue-chip index doing its best to reclaim some of Q3's heavy losses yet again.

Optimism over the state of foreign markets has driven the Street's relief rally thus far, with the US dollar continuing to surge, however broader market trends will likely be directed by decisions from the Federal Reserve as the central bank looks to continue to battle inflation.

The yield on the benchmark ten-year Treasury note fell to roughly 3.633% at the open, down from over 4% during the previous week, while its two-year counterpart was slightly lower at 4.093%.

On the macro front, factory orders were virtually unchanged in August, dropping less than $100.0m to $548.4bn, according to the Census Bureau.

Elsewhere, the Bureau of Labor Statistics revealed that the number of job openings in the US decreased by 10.1m in August, down from a downwardly revised print of 11.2m in July and short of expectations for a reading of 10.77m.

Investors were also looking to the Federal Reserve, with Lorie Logan, John Williams, Loretta Mester, Philip Jefferson, and Mary Daly scheduled to deliver speeches throughout the course of the day.

No major corporate earnings were slated for release on Tuesday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Salesforce.Com Inc. (CRM) $154.07 4.17%
Boeing Co. (BA) $130.99 3.92%
Goldman Sachs Group Inc. (GS) $310.42 3.77%
JP Morgan Chase & Co. (JPM) $111.49 3.49%
Caterpillar Inc. (CAT) $177.05 3.40%
American Express Co. (AXP) $144.37 3.11%
Walt Disney Co. (DIS) $100.12 3.08%
Microsoft Corp. (MSFT) $247.41 2.77%
International Business Machines Corporation (CDI) (IBM) $124.84 2.74%
Nike Inc. (NKE) $87.57 2.54%