Extending gains ahead of earnings later in the day from Netflix and Tesla, Wall Street stocks on Wednesday opened higher.
The Dow Jones Industrial Average was up 0.4% at 35,076.44 about 15 minutes into trading as the index has risen the last seven days, AFP reported.
Stocks have been on an upswing in the wake of financial data that suggest the possibility of a “soft landing” for the economy, where inflation moderates but the United States does not go into recession.
IMF board signs off on $1bn in funds for Kenya
The broad-based S&P 500 advanced 0.4% to 4,574.80, while the tech-rich Nasdaq Composite Index gained 0.5% to 14,418.94.
Investors have a “fear of missing out” on further gains, according to analysts.
Despite the sense that the market is overbought “a resilience to selling interest is exactly why the stock market has kept pressing higher,” said Briefing.com analyst Patrick O’Hare.
Among individual companies, Goldman Sachs shares fell 1.0% as it reported weaker-than-expected results.
Profits came in at $1.1 billion, down 62% from the year-ago period, on weakness in the merger and acquisition market and the hit from net losses and markdowns in real estate.
