BUSINESS US stocks open higher, rebound from steep sell-off

BUSINESS

US stocks open higher, rebound from steep sell-off

Xinhua

23:44, February 25, 2020

NEW YORK, Feb. 25 (Xinhua) -- U.S. stocks opened higher on Tuesday, rebounding from steep sell-off in the previous session.

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Traders work during the closing bell at the New York Stock Exchange. (Photo: AFP)

Shortly after the opening bell, the Dow Jones Industrial Average gained 149.26 points, or 0.53 percent, to 28,110.06. The S&P 500 was up 17.04 points, or 0.53 percent, to 3,242.93. The Nasdaq Composite Index added 77.41 points, or 0.84 percent, to 9,298.69.

More than half of the 30 Dow component companies traded in green territory, with Home Depot and Microsoft adding 2.14 percent and 1.6 percent, respectively, leading the gainers.

Eight of the 11 primary S&P 500 sectors traded higher. Communication services and technology both added 0.51 percent, leading the advancers.

On data front, U.S. consumer confidence rose less than expected in February.

The Conference Board Consumer Confidence Index came in at 130.7, up from 130.4 in January.

The Present Situation Index, which is based on consumers' assessment of current business and labor market conditions, decreased from 173.9 to 165.1, according to a report released by The Conference Board. 

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