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

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Wall Street News

Nikkei 225,S&P 500,Nasdaq

The S&P 500 was 0.6% higher early Tuesday and on track to break a scary three-day losing streak.

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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