By Investors Hub
The major U.S. index futures are pointing to a higher opening on Tuesday, with stocks poised to extend the upward move seen in the previous session. Upbeat economic data and easing concerns about the situation with North Korea may generate continued buying interest.
After moving to the upside early in the session, stocks remained firmly positive throughout the trading session on Monday. The major averages have all moved to the upside, with the Nasdaq and the S&P 500 climbing further off the one-month lows set last Thursday
The Dow climbed 135.39 points or 0.6 percent to 21,993.71, the Nasdaq jumped 83.68 points or 1.3 percent to 6,340.23 and the S&P 500 surged up 24.52 points or 1 percent to 2,465.84.
The strength on Wall Street was partly due to bargain hunting, as traders continued to pick up stocks at relatively reduced levels.
Trading activity was somewhat subdued, however, with a lack of major U.S. economic data keeping some traders on the sidelines.
Semiconductor stocks showed a significant move to the upside, driving the Philadelphia Semiconductor Index up by 2.6 percent. Nvidia (NVDA) and Micron (MU) posted standout gains.
Financial, computer hardware and transportation stocks also showed strong moves to the upside, moving higher along with most of the other major sectors.
Adedapo Adesanya