US Stock Markets Today: Dow Jones, Nasdaq Open 0.5% Higher, S&P 500 Up 0.3%

The US stock market opened higher on Wednesday, with all the three main Wall Street indices in the green. The 30-stock Dow Jones Industrial Average advanced 235.52 points, or 0.5%, to 44,941.05 at the opening bell.

The tech-heavy Nasdaq Composite opened 106.57 points, or 5.4% higher at 19,587.48.

The broader index, S&P 500, was up 0.3% at 6,069.39 when the trading commenced. Among the 11 sectoral indices, five were trading positively, whereas six were in the red. The gains were led by information technology and consumer discretionary, whereas energy and materials headed the drags.

Among the major gainers in early trade was Salesforce Inc., whose stock climbed 9% to $360.5 after the software firm's quarterly revenue surpassed estimates. Marvell Technology Inc. advanced 20% to $116.14, as the chipmaker issued strong guidance for the fourth quarter of the calendar year.

The American currency gained strength, as the Bloomberg Dollar Spot Index rose 2.3% to 106.609. The Euro declined by 0.15% to 1.0491 against the greenback.

As the dollar firmed up, the yield on the 10-year US Treasury bond also advanced by four basis points to 4.26%.

Bitcoin, the world's largest traded cryptocurrency, fell 0.3% to $95,814.7. The rally seen in the cryptocurrency has marginally softened, as it was close to breaching the $100,000-mark last month.

In the commodities market, spot gold edged higher, rising by 0.3% to $2,652.03 per ounce. The metal is still trading lower by nearly $100 an ounce as compared to the pre-US presidential election highs.

Oil prices were also edging higher after the US markets opened. The futures of Brent, the global crude benchmark, was trading 0.2% higher at $73.76 per barrel.