US stocks open higher after Fed-fueled washout

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US stocks open higher after Fed-fueled washout


Wall Street’s main indexes opened higher on Tuesday as investors returned from the Labor Day weekend to pick up beaten-down stocks following a recent selloff.

The Dow Jones Industrial Average gained 136 points, or 0.44%. The S&P 500 and Nasdaq Composite rose 0.39% and 0.31% respectively. U.S. markets were closed Monday due to the Labor Day holiday.

The rebound in equities drove the S&P 500 up for the second time in seven days. Treasuries slumped across the curve, taking the 10-year yield above 3.25%. The dollar advanced.

Markets started September on a weak note as hawkish comments from Federal Reserve policymakers and data signaling momentum in the U.S. economy raised fears of aggressive interest rate hikes to cool inflation.

MORE TO COME…



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