A relatively favorable Goldman Sachs corporate report eased concerns about the impact of rising interest rates on profits, further driving equities to continue yesterday's gains.
However, rising government bond yields also limited gains in the Wall Street market.
Looking at the Goldman Sachs report, it recorded a slight decrease in profit in the 3rd quarter due to a slowdown in investment banking, but was supported by a jump in net interest income to achieve a positive closing of 2.5%.
Commenting on the report was David Sadkin of Bel Air Investment Advisors saying the market can breathe a little sigh of relief despite the report showing a decline.
However, he feels that this rally will not last because the tightening cycle by the Federal Reserve (Fed) is still ongoing and will affect the corporate reports of other companies.
During the closing session of Wall Street yesterday saw the Dow Jones Industrial gain 1.12% at 30,523.8 while the S&P 500 reached 1.14% at 3,719.98 and the Nasdaq Composite climbed 0.90% at 10,772.40.
The STOXX 600 index rose 0.34% with MSCI's gauge of global shares gaining 1.13%.
The opening of Asian trade saw Japan's Nikkei 225 add 0.42%, Topix reach 0.3%, South Korea's Kospi jump 0.14% and Kosdaq up 0.43%.
In Australia, the S&P/ASX 200 index added 0.32% and the broad gauge MSCI Asia Pacific shares outside Japan opened higher.
The Treasury yield summary saw the benchmark 10-year note hover at 3.9922% from 4.015% while the 30-year bond rose 1/32 in price to yield 4.0142% from 4.015%.
