Investing.com – U.S. stocks were broadly higher after the open on Tuesday, as market sentiment was boosted by hopes that Ireland’s parliament would approve an austerity budget and after President Obama agreed to extend tax cuts.
During early U.S. trade, the Dow Jones Industrial Average jumped 0.73%; the S&P 500 index surged 0.84%, while the Nasdaq Composite index soared 0.89%.
On Monday, President Barack Obama said he would agree to extend Bush-era tax cuts for high-income taxpayers and renew jobless benefits for millions of Americans.
Meanwhile, shares in the financial sector were broadly higher amid hopes that Ireland's austerity budget would be approved later in the day, opening the way for a rescue package to shore up the country's finances.
Shares in the second-largest U.S. lender JP Morgan-Chase jumped 1.09%, rivals Bank of America surged 1.46%, while U.S. listed shares of Bank of Ireland soared 20.83%.
Within the sector, shares in Citigroup added 2.81% after the U.S. Treasury Department said it sold its remaining stock in the lender for approximately USD 10.5 billion.
Elsewhere, shares in the commodity sector performed strongly after crude oil prices advanced to a 26-month high and gold prices rose to a record high.
Shares in oil and gas giant Exxon-Mobil jumped 1.93%, U.S. listed shares of the world’s largest mining group BHP Billiton surged 2.73%, while shares in metal producer Freeport McMoran Copper & Gold rallied 2.51%.
In deal news, shares in Chicago-based natural gas distributor Nicor Inc. rallied 4.66% after the company agreed to be bought by AGL Resources for approximately USD 2.4 billion. Shares in AGL tumbled 4.39% following the news.
Meanwhile, internet giant Google saw shares soar 2.25% after it launched eBookstore, an online bookstore, late Monday.
Across the Atlantic, European stock markets posted sharp gains: the EURO STOXX 50 rallied 1.64%, France’s CAC 40 jumped 2.01%, Germany's DAX added 1.03%, while Britain's FTSE 100 surged 1.08%.
Later in the day, the U.S. was to publish data on economic optimism and consumer credit.
During early U.S. trade, the Dow Jones Industrial Average jumped 0.73%; the S&P 500 index surged 0.84%, while the Nasdaq Composite index soared 0.89%.
On Monday, President Barack Obama said he would agree to extend Bush-era tax cuts for high-income taxpayers and renew jobless benefits for millions of Americans.
Meanwhile, shares in the financial sector were broadly higher amid hopes that Ireland's austerity budget would be approved later in the day, opening the way for a rescue package to shore up the country's finances.
Shares in the second-largest U.S. lender JP Morgan-Chase jumped 1.09%, rivals Bank of America surged 1.46%, while U.S. listed shares of Bank of Ireland soared 20.83%.
Within the sector, shares in Citigroup added 2.81% after the U.S. Treasury Department said it sold its remaining stock in the lender for approximately USD 10.5 billion.
Elsewhere, shares in the commodity sector performed strongly after crude oil prices advanced to a 26-month high and gold prices rose to a record high.
Shares in oil and gas giant Exxon-Mobil jumped 1.93%, U.S. listed shares of the world’s largest mining group BHP Billiton surged 2.73%, while shares in metal producer Freeport McMoran Copper & Gold rallied 2.51%.
In deal news, shares in Chicago-based natural gas distributor Nicor Inc. rallied 4.66% after the company agreed to be bought by AGL Resources for approximately USD 2.4 billion. Shares in AGL tumbled 4.39% following the news.
Meanwhile, internet giant Google saw shares soar 2.25% after it launched eBookstore, an online bookstore, late Monday.
Across the Atlantic, European stock markets posted sharp gains: the EURO STOXX 50 rallied 1.64%, France’s CAC 40 jumped 2.01%, Germany's DAX added 1.03%, while Britain's FTSE 100 surged 1.08%.
Later in the day, the U.S. was to publish data on economic optimism and consumer credit.