Wall Street surges 1% at the open

US stock indices opened the fourth session of the week sharply higher, with Dow Jones and S&P 500 marking record highs, while NASDAQ passed 8,000, as the tech sector led the charge higher, while markets price in the mounting US-China trade dispute as less damaging than initially thought. 

Earlier US data showed unemployment claims fell 3 thousand in the week ending September 15 to 201 thousand from 204 thousand, besting estimates of 210 thousand, while continuing claims fell to 1.645 million in the week ending September 8, beating estimates of 1.705 million. 

The Philly manufacturing index rose to 22.9 from 11.9, beating expectations of 17.5. 

US existing home sales were unchanged in August at an annualized 5.34 million units, compared to a 0.7% dip in July, while analysts expected a 0.5% increase to 5.37 million. 

Stock Performance 

As of 02:14 GMT, Standard and Poor's 500 rose 0.58%, or 16.85 points to 2,924.80, while Dow Jones rallied 0.80%, or 210.38 points to 26,616.14. 

Tech-heavy NASDAQ surged 0.91%, or 72.72 points to 8,022.30.