On the 6th (local time), the three major indexes on Wall Street opened higher on bargain hunting after the recent declines. A rebound led by tech stocks appears to be driving the broader market.
As of 10:57 a.m., the Dow Jones Industrial Average on the New York Stock Exchange was up 801.48 points (1.64%) from the previous session at 49,710.20.
The Standard & Poor's (S&P) 500 rose 75.23 points (1.11%) to 6,873.34 from the previous session, and the Nasdaq composite added 232.66 points (1.03%) to 22,773.24.
According to market research firm FactSet, about $1.35 trillion (about 1,977 trillion won) in market capitalization evaporated from big tech stocks over the past week. As a result, bargain hunting flowed in, lifting tech shares. Nvidia surged more than 6%, while Broadcom and Apple gained in the 4% and 1% ranges, respectively.
However, Amazon, which released results after the close the previous day, is plunging more than 8% on concerns about excessive investment. Amazon said this year's capital expenditure will be about $200 billion (about 293 trillion won), roughly 36% higher than the market estimate of $146.6 billion (about 215 trillion won).
The University of Michigan's February consumer sentiment index came in at 57.3, beating the market forecast (55) and reflecting positive consumer sentiment.
By sector, all groups are rising except communication services and consumer discretionary.
European stocks are also broadly higher. The Euro Stoxx 50 was up 1.14% from the previous session at 5,993.47. At the same time, the U.K.'s FTSE 100 and France's CAC 40 rose 0.60% and 0.46%, respectively, and Germany's DAX gained 0.90%.