Stocks are expected to open higher Wednesday, building on Tuesday’s rally on Wall Street, despite a weak report on U.S. durable-goods orders.

Orders for U.S. durable goods orders fell more than expected in April as the U.S. manufacturing sector continued to struggle.

Orders for items meant to last three years or longer, fell by 2.4% to US$168.93 billion last month, the largest monthly decline since last September, the Commerce Department said Wednesday. The drop followed a revised 1.4% rise in March orders, which were previously estimated as a 1.5% increase.

There are no major economic data released in Canada this morning.

U.S. stock prices climbed sharply higher Tuesday. The Dow Jones industrial average jumped 179.97 points, or 2.09%, to 8781.35. The Nasdaq Composite Index surged 46.60 points, or 3.09%, to 1,556.69, its highest level in almost a year.

In Europe, stocks are sharply higher in midday trading. Tech shares soared, mirroring the gains of the tech-heavy Nasdaq.

London’s FTSE 100 index is up 58.3 points, or 1.5%, to 4,050.7. The Germany DAX index has climbed 52.68 points, or 1.8%, to 2,926.28, In Paris, the CAC40 is up 49.3 points, or 1.7%, to 2,940.77.

Overnight, Asian markets closed stronger following Tuesday’s big advance on Wall Street.

Tech stocks boosted Tokyo’s Nikkei 225 stock average, which climbed 113.94, or 1.4%, to finish at 8,234.18.

Hong Kong shares also performed strongly, the Hang Seng closed up 0.95% at 9,510.62.