Stocks Ended Higher after Tech-driven Selloff

U.S. stocks ended higher on Tuesday, following a volatile session that saw major indexes fluctuate widely, as investors digested a sharp move lower in the previous day’s tech-led rout. The Dow Jones Industrial Average rose 389.17 points, or 1.65%, to 23,745.12. The S&P 500 gained 32.57 points, or 1.26%, to 2,614.45. The Nasdaq Composite added 71.16 points, or 1.04%, to 6,941.28.

Oil futures rose Tuesday, reclaiming a chunk of the ground as equities and other assets perceived as risky posted a partial bounceback from a sharp selloff suffered the previous day as worries over trade tensions rose. Brent crude rose 50 cents, or 0.7%, to $68.14 a barrel. West Texas Intermediate futures rose 47 cents, or 0.7%, to $63.48 a barrel.

Global music-streaming giant Spotify Technology SA (SPOT) made its debut on the New York Stock Exchange Tuesday afternoon. TSpotify shares began trading with an opening price of $165.90 per share. The streaming music leader has structured the stock market listing to allow existing investors to sell directly to the public while offering no shares of its own.

CBS has submitted a bid for Viacom that is below market value, sources familiar with the situations said. The CBS special committee wants CBS CEO Les Moonves and Joe Ianniello, the chief operating officer of CBS, to lead the company.