Stocks Rebound at Open

The U.S. stocks rebounded in the early trading on Tuesday after the disappointing manufacturing data triggered the steepest selloff on the S&P 500 and the Dow Jones Industrial Average since June during the previous session. The Dow Jones Industrial Average lately was up 33.83 points, or 0.22%, to 15,406.638. The S&P 500 gained 8.89 points, or 0.51%, at 1,750.78. The Nasdaq Composite rose 24.41 points, or 0.61%, at 4,021.37.

A top U.S. central banker gave a relatively downbeat prediction of U.S. economic growth on Tuesday but nonetheless said he expects the Federal Reserve to continue cutting its monetary stimulus at upcoming policy meetings.

Microsoft on Tuesday announced that Satya Nadella will be its next leader, betting on a longtime engineering executive to help the company keep better pace with changes in technology.

The U.S. government has authorized limited crude oil exports to Europe, for the first time in years, raising new questions about how companies are testing the limits of a controversial, decades-old exports ban. The Department of Commerce has granted two licenses to export U.S. crude to the UK since last year and another two to Italy.

Wal-Mart Stores Inc said on Tuesday it would invest about $500 million this year to strengthen its presence in Canada, creating more than 7,500 jobs including construction.

J.C. Penney (JCP) reported a 2% increase in same-store sales for the fourth quarter, marking the first time since the second quarter of 2011 that the retailer has generated a positive quarterly sales result.

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