US open: Stocks trade higher following recent run of heavy losses
Wall Street stocks were in the green early on Tuesday as stocks looked set to reclaim some of their recent heavy losses.
As of 1525 BST, the Dow Jones Industrial Average was up 0.69% at 32,467.65, while the S&P 500 was 1.17% firmer at 4,038.05 and the Nasdaq Composite came out the gate 1.91% stronger at 11,845.30.
The Dow opened 221.95 points higher on Tuesday, reclaiming some of the losses recorded in the previous session.
Tuesday morning's early moves came as the yield on the benchmark 10-year Treasury note eased off from multiyear highs to trade at roughly 2.974% shortly after the opening bell.
Big-name tech stocks led the rally early on Tuesday, with the likes of Microsoft, Intel, Salesforce, and Apple all trading more than 2% higher.
In terrms of earnings, Warner Music Group topped expectations with its quarterly revenue growth, while Peloton slumped after posting a huge loss and offering some weak guidance.
Still to come, Electronic Arts and H&R Block will report after the close.
On the macro front, the National Federation of Independent Business' small business optimism index was unchanged month-on-month in April at 93.2 as it still hovered at levels not seen in two years.
Also in focus, the Federal Reserve's John Williams, Raphael Bostic, Neel Kashkari, Loretta Mester, and Christopher Waller will all speak throughout the course of the day.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Microsoft Corp. (MSFT) $272.50 2.99%
Chevron Corp. (CVX) $163.85 2.89%
Salesforce.Com Inc. (CRM) $168.24 2.84%
Apple Inc. (AAPL) $156.04 2.62%
Boeing Co. (BA) $136.72 2.56%
Intel Corp. (INTC) $44.03 2.23%
Walt Disney Co. (DIS) $109.15 2.03%
American Express Co. (AXP) $163.81 1.73%
Cisco Systems Inc. (CSCO) $49.76 1.63%
Unitedhealth Group Inc. (UNH) $494.29 1.62%
Dow Jones - Fallers
3M Co. (MMM) $149.98 -1.58%
Walmart Inc. (WMT) $149.56 -1.16%
Procter & Gamble Co. (PG) $154.85 -0.49%
Walgreens Boots Alliance, Inc. (WBA) $43.64 -0.48%
Home Depot Inc. (HD) $295.80 -0.42%
International Business Machines Corporation (CDI) (IBM) $134.27 -0.13%
Honeywell International Inc. (HON) $230.94 0.00%
Dowdupont Inc. (DWDP) $30.52 0.00%
Coca-Cola Co. (KO) $64.66 0.08%
Johnson & Johnson (JNJ) $177.62 0.16%
S&P 500 - Risers
Duke Realty Corp. (DRE) $53.07 11.23%
Sysco Corp. (SYY) $87.93 8.45%
Mosaic Company (MOS) $60.06 7.51%
International Flavors & Fragrances Inc. (IFF) $127.25 6.49%
Nvidia Corp. (NVDA) $180.10 6.25%
HF Sinclair Corporation (DINO) $44.67 5.64%
Nektar Therapeutics (NKTR) $3.91 5.53%
Devon Energy Corp. (DVN) $65.32 5.32%
Microchip Technology Inc. (MCHP) $67.60 5.12%
Norwegian Cruise Line Holdings Ltd (NCLH) $16.76 5.11%
S&P 500 - Fallers
Altria Group Inc. (MO) $51.79 -6.27%
Brighthouse Financial, Inc. (BHF) $48.73 -4.66%
DENTSPLY Sirona Inc. (XRAY) $37.47 -4.52%
Coty Inc. Class A (COTY) $6.49 -3.64%
Expeditors International Of Washington Inc. (EXPD) $106.67 -2.82%
Apartment Investment & Management Co. (AIV) $5.59 -2.70%
Pentair plc (PNR) $49.89 -2.54%
TJX Companies Inc. (TJX) $57.75 -2.35%
ProLogis (PLD) $129.46 -2.20%
Illinois Tool Works Inc. (ITW) $204.86 -2.19%
Nasdaq 100 - Risers
Mercadolibre Inc. (MELI) $828.06 7.40%
Nvidia Corp. (NVDA) $180.10 6.25%
Microchip Technology Inc. (MCHP) $67.60 5.12%
NetEase Inc. Ads (NTES) $88.24 4.40%
Regeneron Pharmaceuticals Inc. (REGN) $625.42 4.28%
Lam Research Corp. (LRCX) $466.01 4.22%
Biomarin Pharmaceutical Inc. (BMRN) $77.75 4.19%
Broadcom Inc. (AVGO) $586.17 4.13%
Workday, Inc. (WDAY) $183.47 4.12%
JD.com, Inc. (JD) $53.09 4.02%
Nasdaq 100 - Fallers
DENTSPLY Sirona Inc. (XRAY) $37.47 -4.52%
J.B. Hunt Transport Services Inc. (JBHT) $169.19 -1.92%
Ross Stores Inc. (ROST) $91.74 -1.79%
CSX Corp. (CSX) $33.23 -1.16%
Fastenal Co. (FAST) $52.54 -1.05%
Cognizant Technology Solutions Corp. (CTSH) $75.64 -0.82%
PACCAR Inc. (PCAR) $84.68 -0.79%
Dollar Tree Inc (DLTR) $160.31 -0.76%
Kraft Heinz Co. (KHC) $43.95 -0.54%
Walgreens Boots Alliance, Inc. (WBA) $43.64 -0.48%