US stocks surge after opening lower

Major US equity indices opened lower on Wednesday but quickly turned higher within minutes and continued with their recovery after the recent rout.

Volatile price action is turning out to be the new normal in the markets, with investors still dealing with the recent concerns over surging bond yields and a possible pickup in inflation. 

Today's upswing followed yesterday's sharp recovery of nearly 1000-points for the blue-chip index, Dow Jones Industrial Average (DJIA), which ended with daily gains of nearly 570-points.

Investors' focus shifts back to the US political development, wherein the federal government might be forced for a partial shutdown if lawmakers don’t agree on spending measures by midnight Thursday. The worries, however, seems unlikely to weigh on the market as the House already passed a temporary bill late Tuesday, and the same is expected to be approved by the Senate.

At the time of writing this report, DJIA was back above the 25K mark, gaining over 200-points, and the broader S&P 500 Index also managed to jump back above 2,700 round figure mark. Meanwhile, tech-heavy Nasdaq Composite Index underperformed the broader indices and added over 20-points to 7,134.