NEW YORK: Wall Street stocks rose early Wednesday as markets look for a second straight positive day after bruising losses that added to worries of a possible US recession.
The early gains came as the Japanese yen weakened following comments from a top Bank of Japan official that the central bank would maintain ultra-loose monetary policies.
Deep losses on Wall Street on Monday were seen as partly due to dislocations after the Bank of Japan lifted interest rates last week, prompting liquidations in other markets.
About 25 minutes into trading, the Dow Jones Industrial Average was up 0.9 percent at 39,347.15.
Wall St bounces back after global stocks rout
The broad-based S&P 500 climbed 1.5 percent to 5,317.79, while the tech-rich Nasdaq Composite Index jumped 1.9 percent to 16,673.73.
Briefing.com analyst Patrick O’Hare characterized the market as experiencing a “vortex of uncertainty” with increased volatility.
Among individual companies, Disney fell 3.9 percent despite reporting better than expected earnings as investors digested commentary that a weakening of demand in the parks business “could impact the next few quarters.”
Airbnb slumped 14.2 percent after reporting lower than expected profits and cautioning of “some signs of slowing demand from US guests.”
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