Stocks Opened Firmly Higher as China Moved to Bolster Economy

U.S. stocks opened firmly higher on Tuesday, adding to a multisession run, supported by reports of China planning fresh stimulus to spur its economy. The Dow Jones Industrial Average lately rose 152.31 points, or 0.58%, to 26,214.99. The S&P 500 advanced 20.23 points, or 0.70%, to 2,906.96. The Nasdaq Composite climbed 65.02 points, or 0.83%, to 7,888.19.

Oil prices rebounded Tuesday morning, but held in check by uncertainty surrounding a key supply decision by OPEC and its allies. West Texas Intermediate crude for July delivery gained 76 cents, or 1.4%, to $54.02 a barrel, while August Brent crude rose 48 cents, or 0.8%, to $62.75 a barrel.

China remained a focal point for investors against a backdrop of a trade tensions, and concerns of a global economic slowdown. Newly announced stimulus measures from China’s central government and currency support efforts from the central bank helped spark a global rally Tuesday morning.

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