US stocks continue scaling higher, clock fresh record highs

Major US equity indices built on overnight strong gains and posted fresh record highs immediate after the opening bell on Tuesday.

Yesterday's fresh bullish break-out, at the start of a new quarter, was further supported by robust US ISM manufacturing PMI for September, pointing to underlying strength in the economy. 

Investors now shift their focus to the upcoming third-quarter corporate earnings for any additional upside from current levels as all three major indices remain well within overbought territory on monthly charts. 

During the opening hour of trade, the broader S&P 500 Index traded in positive territory for the sixth consecutive session and added nearly 3-points to 2,532. Meanwhile, the Dow Jones Industrial Average gained around 40-points to 22,597 and tech-heavy Nasdaq Composite Index climbed 13-points to 6,530.

Investors would also be watching out for any progress on the US President Donald Trump's tax reform plan, which called for lowering corporate tax to 20%.

Today's focus would be on the automakers monthly sales report, with most analysts expecting September auto sales to be largely driven by replacement demand largely from the hurricane-ravaged cities.