“US stocks are rebounding as some traders decide to buy the two-week dip despite rising fears over China’s property market,” said Oanda’s Edward Moya.
Among individual companies, United States Steel surged 36.8 percent after announcing that it received an unsolicited bid from Cleveland-Cliffs to acquire the company. US Steel has begun “a comprehensive and thorough review of strategic alternatives” after “receiving multiple unsolicited proposals” from prospective buyers of the company or some assets, said chief executive David Burritt.Tesla dropped 1.2 percent following reports the company cut its prices in China again.Subscribe to our daily newsletter
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