US stocks rose during the early hours of trading in the way pushing up the S&P's 500 Index for second consecutive day.

This has happened because of better-than-estimated earnings of mining company, BHP Billiton. It has also made a $39 billion bid for Potash Corp. of Saskatchewan Inc.

Walmart which posted an impressive growth posted a 0.7 per cent jump in share prices. Same was the trend with Home Depot Inc. and Urban Outfitters Inc. These two went up by 1.6 per cent after posting an impressive profit figure.

The S&P 500 climbed up by 0.9 per cent to 1,088.94 at 9:33 a.m. in New York. 0.7 per cent was the rise in the Dow Jones Industrial Average that went up by 72.51 per cent.

Analysts believe that the growth has been happening since the stocks are available for a very cheap rate but the corporates are being constructive and that has made all the difference. Mergers and acquisitions are also increasing the confidence of investors.

When on August 10, the Federal Reserve said that economic growth would be modest, as much as $19 trillion was wiped off.