Summary US stocks opened sharply higher Tuesday as investors dismissed downbeat Chinese manufacturing data.
NEW YORK (AFP) - US stocks opened sharply higher Tuesday as investors dismissed downbeat Chinese manufacturing data and focused on a batch of encouraging US company earnings reports.
Five minutes into trade, the Dow Jones Industrial Average was up 92.39 points (0.63 percent) at 14,659.56.
The broad-based S&P 500 rose 9.42 (0.60 percent) to 1,571.92, while the tech-rich Nasdaq Composite Index added 23.79 (0.74 percent) at 3,257.35.
"A disappointing Chinese manufacturing report and lackluster business activity reports out of the eurozone are being met with a plethora of upbeat domestic earnings releases," Charles Schwab & Co. said in a market note.
Stocks extended Monday s rebound from last week s losses. The Dow closed up 0.14 percent, the S&P 500 added 0.47 percent and the Nasdaq jumped 0.86 percent.
