US stocks open higher after prior session’s rout

New York: US stocks rose on Wednesday morning, trying to recoup some of the steep losses they had suffered in the prior session.

Shortly after the opening bell, the Dow Jones Industrial Average climbed 101.18 points, or 0.29 per cent, to 34,401.17. The S&P 500 added 15.13 points, or 0.35 per cent, to 4,367.76. The Nasdaq Composite Index rebound 71.89 points, or 0.49 per cent, to 14,618.57, Xinhua news agency reported.

Eight of the 11 primary S&P 500 sectors advanced in morning trading, with real estate and health care both up 0.6 per cent, outpacing the rest. Energy slipped 1.2 per cent, the worst-performing group.

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The above market reactions followed a big rout on Wall Street that saw the Dow close down nearly 570 points, while the S&P 500 and the Nasdaq shed 2 per cent and 2.8 per cent, respectively.

The yield on the benchmark US 10-year treasury retreated on Wednesday morning, after hitting its highest point since June on Tuesday. The yield on the 30-year Treasury bond also declined.

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