9/6/2022, 3:30 PM (Source: TeleTrader)
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US higher at open, data in spotlight

Major stock markets in the United States traded higher at the open on Tuesday, recuperating from last week's selloff after an extended weekend, as investors awaited the reports on the country's composite PMI and services PMI, which are to be released shortly.

Meanwhile, US authorities shared more details on the plan which aims to allocate $50 billion to the semiconductor industry, made available through the CHIPS and Science Act, while US President Joe Biden underlined the law will "revitalize American manufacturing."

The Dow Jones grew 0.35% or 108 points at the opening bell, with Chevron up 1.22% at the same time. The S&P 500 rose 0.31% at 9:30 am ET, while the Nasdaq 100 increased 0.37% at the open. Illumina was the best performer on both indexes, jumping 4.51% at 9:31 am ET. Not long after the open, however, all three indexes turned to losses.

The euro traded 0.36% lower against the dollar at 9:29 am ET, selling for 0.98967.

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