US stocks rally after rout, open higher

NEW YORK (AFP) - US stocks opened higher Tuesday, joining European equity markets in stabilizing after Monday's rout.

Five minutes into trade, the Dow Jones Industrial Average stood at 17,543.87, up 42.22 points (0.24 per cent).

The broad-based S&P 500 gained 5.09 (0.25 per cent) to 2,025.67, while the tech-rich Nasdaq Composite Index advanced 14.67 (0.32 per cent) to 4,667.25.

US stocks fell nearly two percent Monday, shadowing deeper declines in many European markets on worries about eurozone political stability and tanking oil prices.

Analysts also said the market had been due for a pullback after the S&P 500 jumped more than six per cent in a two-week span in December.

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