Major US equities indices opened with strong gains on Wednesday and were being supported by easing Italian debt fears.
News reports, suggesting that Italy’s government was open to reduce budget deficits in coming years and possibly avoid a collision with the European Union, boosted investors’ appetite for riskier assets – like equities.
The early positive mood was further supported by upbeat ADP report, which showed that private sector employers added 230K new jobs in September, much higher than 185K expected and 163K previous.
Adding to this, the US ISM non-manufacturing PMI unexpected jumped to 61.6 in September, marking its best level since 1997 and remained supportive of the up-move.
During the opening hour of trade, the blue-chip Dow Jones Industrial Average carved a fresh new all-time high, while the broader S&P 500 Index remained within striking distance of its own record high level.
Meanwhile, tech-heavy Nasdaq Composite Index added over 25-points and was seen building on its momentum back above the 8,000 round figure mark, though was still over 1% away from its intraday peak.
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