NEW YORK - US STOCKS bounced higher in opening trade on Tuesday, buoyed by gains in Europe and Asian markets as investors hoped that emergency government measures will pull the global economy out of recession.
The Dow Jones Industrial Average climbed 77.42 points (0.86 per cent) to 9,030.31 in early trades and the technology-heavy Nasdaq advanced 13.55 points (0.83 per cent) to 1,641.58.
The broad-market Standard & Poor's 500 index added 8.88 points (0.96 per cent) to 936.33.
'Gains in Asia and Europe are spreading to US equities as 2009 brings new funds into the market amid expectations that the fiscal stimulus packages around the world and coordinated global rate cuts will eventually begin to stem the serious decline in economic activity,' analysts at Charles Schwab & Co said.
US stocks had fallen on Monday as investors took profits last week's powerful rally and braced for the next round of corporate earnings reports, due to begin on Monday.
The Dow dropped 0.91 per cent, the Nasdaq 0.26 per cent and the S&P 500 0.47 per cent. -- AFP
