Wall Street opens higher, some calm returns after market's worse loss in almost 2 years

Specialist Gregg Maloney works at his post on the floor of the New York Stock Exchange, Monday, Aug. 5, 2024.

Futures for the S&P 500 rose 0.8% and futures for the Dow Jones Industrial Average gained 0.7%. The technology-laden Nasdaq, which tumbled more than 2% on Thursday and Friday, and another 3.4% to start the week, climbed 0.9%. The San Jose, California, company filed for Chap. 11 bankruptcy protection late Monday and said it had an agreement with Solaria to sell some of its assets for about $45 million. Its shares, which began the year close to $5 each, fell more than 40% to just 47 cents before the opening bell.

The Nikkei gained nearly 11% early Tuesday and bounced throughout the day to close up 3,217.04 points at 34,675.46 as investors snapped up bargains after the 12.4% rout of the day before. In Australia, the S&P/ASX 200 advanced 0.4% to 7,680.60 as the central bank kept its main interest rate unchanged. Taiwan's Taiex was up 1.2% after plunging 8.4% the day before and the SET index in Bangkok gained 0.3%.

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Wall Street's smaller stocks roar a day after S&P 500's worst loss since 2022Wall Street’s split widened, as smaller stocks and other formerly unloved areas of the market rose while Big Tech stocks gave back more of their huge gains.
Source: latimes - 🏆 11. / 82 Read more »