US stocks rebounded a day after a sharp pullback as the market digested better-than-expected company earnings and mixed economic data on housing and inflation.
The blue-chip Dow Jones Industrial Average advanced 82.60 points (0.90 per cent) to 9,217.94 in closing trades on Tuesday.
The tech-heavy Nasdaq composite climbed 25.08 points (1.30 per cent) to 1,955.92 and the broad-market Standard & Poor’s 500 index rose 9.94 points (1.01 per cent) to a preliminary close of 989.67.
The rebound came after the major indices posted their worst single-session percentage loss in six weeks on Monday amid a global stock market rout triggered by fears of overblown hopes for recovery from the worst world slump in seven decades.
“A better-than-expected economic sentiment report out of Germany and better-than-expected earnings news from Dow component Home Depot have been counted as uplifting factors in the wake of Monday’s losses,” said Patrick O’Hare of Briefing.com.