US Stocks Open Higher After Two Down Sessions

Faizan Hashmi Published January 20, 2022 | 08:47 PM

Wall Street stocks opened higher Thursday as investors sought to shrug off two consecutive losing sessions amid lingering worries over tightening monetary policy

New York, (UrduPoint / Pakistan Point News - 20th Jan, 2022 ) :Wall Street stocks opened higher Thursday as investors sought to shrug off two consecutive losing sessions amid lingering worries over tightening monetary policy.

After a poor start to 2022 for equities, some analysts consider the market "oversold," as investors recalibrate valuations with the Federal Reserve signaling a sharp change in monetary policy.

The yield on the 10-year US Treasury note -- a proxy for Fed lending rates -- edged lower early Thursday after spiking above 1.85 percent in recent days.

About 25 minutes into trading, the Dow Jones Industrial Average was up 0.

8 percent at 35,316.39.

The broad-based S&P 500 gained 0.9 percent to 4,574.38, while the tech-rich Nasdaq Composite Index jumped 1.5 percent to 14,548.76.

However, analysts noted that stocks also opened higher on Wednesday before pulling back.

Among individual companies, shares of both American Airlines and United Airlines declined after they reported quarterly losses due in part to lingering impacts from the latest Covid-19 wave. However, both carriers signaled they expect a strong recovery in demand this spring.