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US stocks open higher, rebounding from Monday rout

May 14 2019 16:42

Wall Street stocks rose on Tuesday, winning back a fraction of the losses suffered in a broad sell-off in the prior session caused by fears over the escalating US-China trade war.

About 10 minutes into trading, the Dow Jones Industrial Average stood at 25 441.48, up 0.5%.

The broad-based S&P 500 gained 0.6% to 2 827.43, while the tech-rich Nasdaq Composite Index advanced 0.7% to 7 699.62.

Major US indices lost more than 2% on Monday after China announced retaliatory tariff measures on the US following Washington's move last week to more than double the punitive tariffs already in place.

Analysts said the market was taking solace in President Donald Trump's statement that he expected to meet next month with his Chinese counterpart Xi Jinping at a Group of 20 summit in Japan.

The solid start to Tuesday's trading session raises "the question of whether the early strength will be sold into or sustained," said Briefing.com analyst Patrick O'Hare.

"That will be monitored closely by market participants who recognise the market has shown a great propensity to bounce back every time it has moved noticeably lower."

equities  |  wall street  |  markets
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