The main Wall Street indices jumped in early trade on Wednesday, as the US stock market reacted positively to President Donald Trump's decision to extend the ceasefire with Iran.
S&P 500 rose 0.7%, or 49 points, to 7,112.2 minutes after the opening bell, whereas the tech-heavy Nasdaq Composite climbed 0.72%, or 175.18 points, to 24,435.15.
The Dow Jones Industrial Average rose 0.9%, or 436.44 points, to 49,585.82 at 9:40 am EST.
GE Vernova was among the top gainers in early trade, as its shares jumped 11.4% to $1,105.01 after the company posted strong quarterly results. Boeing was also a key gainer, with the stock rising 3% to $225.61 following upbeard Q1 results.
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Among the Magnificient Seven stocks, all barring Nvidia were trading in the green. Google-parent Alphabet led with a climb of 1.7% in early trade, followed by Microsoft's scrip that rose by 1.5%. Tesla, Meta Platforms, and Apple also logged gains of over 1% in the first hour of trade.
The currency market witnessed muted action, with Bloomberg Dollar Spot Index majorly staying unchanged. The 10-year Treasury yield fell by one basis point to 4.28%.
Crude oil prices stayed elevated, with the benchmark Brent crude trading 2.04% higher at $100.49 a barrel at 10:10 am EST. The US West Taxes Intermediate futures rose 2.3% to $91.7 per barrel.
In the bullion market, US spot gold was trading 0.5% higher at $4,743.44 an ounce, whereas spot silver was up 1.9% at $78.12 per ounce.
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