US stocks up before Biden's jobs, infrastructure plan

By Ovunc Kutlu

ANKARA (AA) - US stocks were higher at the opening bell on Wednesday with positive payroll numbers and investors awaiting details of President Joe Biden's jobs and infrastructure plan.

The Dow Jones industrial average was up 9 points to 33,076 with Apple adding 2.7%.

The S&P 500 rose 0.5% to 3,977 and the Nasdaq soared 184 points, or 1.4%, to 13,232 with Tesla and Twitter gaining 2% each.

The yield on the benchmark 10-year US Treasury notes was down 0.2% to 1.723%, while the VIX volatility index plummeted 3.4% to 18.95.

Private payrolls increased 517,000 in March, marking its fastest increase since September, according to ADP Research Institute earlier.

After almost touching the $60,000 mark, Bitcoin saw its price slide $2,000 in five minutes in volatile trading as other cryptocurrencies lost as much as 4%.

Investors on Wednesday will closely watch Biden as he unveils the first part of his infrastructure plan, which may include tax increases on corporations and wealthy individuals, reversing his predecessor Donald Trump's tax cuts in 2017.