US stocks rise early; Dow exceeds 30,000 marks

US stocks rose in early trade on Tuesday, continuing the previous day’s rally as the Dow Jones Industrial Average surged above the 30,000 mark.

As of 10:30 a.m. EDT, one hour after the start of trading, the Dow was up 700.07 points, or 2.37%, to 30,190.96. The S&P 500 was up 97.21 points, or 2.64%, to 3,775.94, and the Nasdaq Composite was up 332.97 points, or 3.08%, to 11,174.45.

On Monday, the first day of the fourth quarter, shares rose at their highest rates since early summer. The three indices each recorded three consecutive quarters of losses in the period up to Friday.

The Federal Reserve hiked interest rates by 0.75% two weeks ago. It was the third straight hike at the rate aimed at smothering inflation.

“With sentiment towards equities already very weak, regular rallies are to be expected,” Mark Haefele, chief investment officer at UBS Global Wealth Management, told CNBC. “But markets are likely to remain volatile in the short-term, mainly driven by expectations around inflation and interest rates.” US stocks rise early; Dow exceeds 30,000 marks

Fry Electronics Team

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