Traders work on the floor of the New York Stock Exchange. Photo: Reuters/Lucas Jackson

The best performing S&P sector in today’s 200-point rally in the Dow Jones average is construction machinery (up 3.75% just after the opening), followed by household appliances (up 2.83%) chemicals (up 2.7%), agricultural and farm machinery (up 2.5%). The biggest loser is healthcare services, dragged down by disappointing estimates from Express Scripts (down 13% and Laboratory Corp (down 6%).

The Korean market is performing strongly, with Hyundai Motor up 3.56% overnight and Samsung up 3.54%. The Korean ETF (ticker EWY) is up 1.5% in early New York trading. At 9 times forward earnings, Korean stocks are the cheapest in the developed world.

Asia Times Financial is now live. Linking accurate news, insightful analysis and local knowledge with the ATF China Bond 50 Index, the world's first benchmark cross sector Chinese Bond Indices. Read ATF now.