- US stocks opened higher on Tuesday as oil prices declined
- Nasdaq rose 0.38% to 27,221.94, S&P 500 gained 0.16%
- Dow Jones traded 0.27% higher at 52,187.61 by 9:33 am ET
US stocks opened on a positive note on Tuesday, September 22 as oil prices dropped, with investors tracking diplomatic efforts to end the US-Iran war.
Nasdaq Composite surged 0.38% to 27,221.94, S&P 500 gained 0.16% to 7,777.06, while Dow Jones Industrial Average traded 0.27% higher at 52,187.61 by 9:33 am ET or 7:03 pm IST.
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Brent crude futures slipped below $98 a barrel following reports that Saudi Arabia restarted its East-West oil pipeline, which is expected to resume crude exports from the Red Sea port of Yanbu.
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Oil continous drop helped ease fears over the inflationary risks from higher energy costs. Treasury yields were low, with the 10-year rate down two basis points to 4.93%, while dollar remained unchanged.
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Meanwhile, President Donald Trump will address the United Nations General Assembly in New York later today. Traders are looking for possible talks with his Iranian counterpart on the sidelines, US Secretary of State Marco Rubio said he didn't think a meeting was planned.
Global investors are bracing for the summit between Trump and Chinese President Xi Jinping later this week. Officials from both the sides finished their second day of talks in New York on Monday.
On Monday, September 21, US stocks rallied following a decline in oil prices and Treasury yields offered some relief to investors. The Dow Jones Industrial Average rose 318 points, or 0.62%, while the S&P 500 and Nasdaq Composite advanced 0.58% and 0.77%, respectively.
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