Finally, some good news for the U.S. stock market today as stocks are opening higher because of gains in the technology and energy sectors.
It had a rough run at the beginning of the year but currently it seems to be shifting a different direction in Technology as Apple and Intel's numbers rose to 2% during Tuesday's early trade. These numbers show to be the biggest gains in Dow Jones industrial average. The late afternoon push by Technology led stocks positively in the market.
Looking farther ahead for China, concerns are still growing for the economy's slowdown and there may well be a potential fallout when it comes to corporate earnings.
Investors are still not confident in the way Beijing is handling things as the financial market suffered losses.
Regardless of this, the U.S stock indexes opened higher and oil prices rose, making the trading a positive turn out.
Energy stocks started glum at the beginning of the trade, going down by 2% but eventually recovered, a close call, in later trading. Energy stocks are also doing quite well when oil's prices turned higher compared to twelve days before where it dipped to its lowest rate.
Phil Blancato, CEO of Ladenburg Thalmann Asset Management analyzes the market's condition saying that people are buying the dip.
Traders are still looking at oil prices, taking their positions by parting with energy and mining stocks. Trading in oil is on the edge which means everybody is selling energy stocks. Investors are now eyeing company earnings.
The Dow average as of 9:35 AM ET was up 167 points, or 1%, to 16,566.
The Standard & Poor's 500 index rose 20 points, or 1.1%, to 1,945. The Nasdaq composite climbed 66 points, or 1.4%, to 4,704, reports have shown.
In New York, wholesale gasoline fell to 2.8 cents or $1.085 a gallon.
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