Investing.com - U.S. markets opened higher on Wednesday, with the Dow rising above 21,000 for the first time as the more moderate tone of U.S. President Donald Trump’s speech to Congress boosted market sentiment.
The Dow Jones Industrial Average jumped 212 points or 1.04% to 21,029 while the S&P 500 rose 0.84% and the Nasdaq Composite added 0.76% at the open.
Trump’s speech to Congress on Tuesday offered few details on his plans for infrastructure spending and tax reforms, but did strike a more restrained tone after a turbulent first month in office.
Risk appetite was also boosted by a batch of generally positive global manufacturing data as investors awaited two U.S. manufacturing surveys from Markit and the ISM.
Comments from Federal Reserve officials, which were seen as increasing the likelihood of a U.S. rate increase this month, boosted shares in the banking sector.