Stocks Opened Lower and Erased Earlier Losses

U.S. stocks opened lower and erased losses in early trading on Tuesday, as the major indexes tried to recover from a recent steep sell-off. The Dow Jones Industrial Average lately rose 244.74 points, or 1.01%, to 24,590.49. The S&P 500 added 28.35 points, or 1.07%, to 2,677.29. The Nasdaq Composite gained 83.15 points, or 1.19%, to 7,050.67.

A global stock market rout continued to weigh on oil market sentiment Tuesday, as crude prices edged lower in morning trading. March West Texas Intermediate crude fell 81 cents, or 1.2%, to $63.32 a barrel. Brent for April gave up 96 cents, or 1.4%, to $66.94 a barrel.

The U.S. trade deficit in December and for the full year both rose to the highest levels since 2008, complicating efforts by President Trump to fulfill his vow to reduce the gap. The deficit in December rose 5.3% to $53.1 billion, the Commerce Department said Tuesday.