US stocks jump during early trade, Trump's tax plan awaited

Major US equity indices opened higher on Wednesday, with the Dow Jones Industrial Average (DJIA) snapping four consecutive days of losing streak.

During the opening hour of trade, DJIA was up over 80-points to 22,367, while the broader S&P 500 Index gained nearly 10-points to 2,506. Meanwhile, tech-heavy Nasdaq Composite Index climbed 50-points to 6,432.

Investors now keenly await the US President Donald Trump to outline his tax reform agenda, which along with expectations for higher infrastructure spending and looser regulation had been driving the markets to a series of record breaking run since the US Presidential election last November. 

   •  US: Trump expected to provide a framework for the tax reform - BBH

On the economic data front, the US durable goods orders posted stronger-than-expected growth in August, clearly pointing to the underlying strength in the economy and remained supportive of the prevalent positive trading sentiment in the market.

The market also seems to be finding support from Tuesday's hawkish remarks by the Fed Chair Janet Yellen and easing geopolitical tensions over the Korean peninsula.

Later during the day, the Fed Governor is scheduled to take part at the Kansas City Fed forum, while St. Louis Fed President James Bullard is also scheduled to speak at Missouri’s Truman State University.