US stocks surged on Wednesday ahead of an inflation data due this week.
Investors are awaiting the US core personal consumption expenditure (PCE) price index data for February.
The inflation data could offer clues about when the Federal Reserve will start cutting interest rates.
As of 9:40 a.m. Eastern time, the Dow Jones Industrial Average was up 307 points, or 0.8 per cent, the S&P 500 was 0.6 per cent higher, and the Nasdaq composite was up 0.3 per cent.
Shares of Trump Media & Technology Group jumped another 18.6 per cent.
Merck climbed 4.9 per cent after its Winrevair treatment for adults with pulmonary arterial hypertension was approved by federal regulators.
Robinhood Markets soared 3.5 per cent after unveiling its first credit card.
The yield on the 10-year Treasury edged down to 4.22 per cent from 4.23 per cent late on Tuesday.
European stock markets mostly rose on Wednesday.
Britain’s FTSE 100 fell 0.2 per cent at 7,913.56. France’s CAC 40 rose 0.4 per cent at 8,219.96. Germany’s DAX edged up 0.6 per cent at 18,488.46.
Euro Stoxx 50 added 0.6 per cent at 5,091.93.
In Asian stock markets, Hong Kong’s Hang Seng Index declined 1.4 per cent at 16,392.84. China’s Shanghai Composite shed 1.3 per cent at 3,993.14. Japan’s Nikkei 225 rose up 0.9 per cent at 40,762.73.
Japan’s currency yen slid to its weakest level in about 34 years against the US dollar. It dipped to 151.97 versus the greenback early on Wednesday in Tokyo.
Brent crude futures for May fell 0.7 per cent to $85.66 a barrel. The May contract is set to expire on Thursday and the more actively traded June contract eased 0.6 per cent to $85.13.
Gold prices edged higher on Wednesday. Spot gold was up 0.3 per cent at $2,185.89 per ounce as of 1205 GMT. US gold futures rose 0.4 per cent at $2,184.80.
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Published: 27 Mar 2024, 07:32 PM IST