U.S. stocks rebounded Tuesday morning after a punishing day on the global markets, sailing away from China’s unslowing slide and renewing hopes of an averted meltdown.
The Dow Jones industrial average jumped 320 points, or 2 percent, shortly after the 9:30 a.m. opening bell, one day after raucous trading plunged the index of 30 blue-chip stocks to its lowest point in 18 months.
The Standard & Poor’s 500, a broader look at the market, jumped 2 percent, while the Nasdaq Composite, an index dense with tech stocks, soared 3 percent.
The sharp start marked the first encouraging news after several days of chaotic trades, in which many large U.S. companies lost billions of dollars in market value amid a global sell-off.
The start, in which all 30 Dow stocks made big gains, could go a long way toward helping investors and workers with 401(k) retirement accounts regain some confidence in global trades.
Equities really came out of the gate running this morning. Things weren’t so good for China, even after lowering interest rates.
Compared to most places in Europe and Asia, our stock market is in pretty good shape. Even with the correction, our indexes were down less than other regions around the world.
Let the bulls go back to running! This seems like a good time to buy.
