Stocks shrug off rout

U.S. stocks open higher as investors seek bargains after Tuesday's 280-point drop, look for Fed rate cut.


NEW YORK (CNNMoney.com) -- U.S. stocks rose sharply at Wednesday's open as investors regained their composure a day after the Dow Jones industrial average fell 280 points on renewed economic fears.

The Dow industrials, The Nasdaq composite index and the Standard & Poor's 500 index rose in early trading.

The calm start follows Tuesday's big selloff, when another weak housing report, coupled with a big drop in consumer confidence and worries expressed at the Federal Reserve's last meeting, sparked a 280 point-drop in the Dow.

Investors will get a break Wednesday from the deluge of economic data, with the government's weekly report on crude inventories the only major release on tap.

Oil prices rose 67 cents to $72.40 a barrel in electronic trading.

Companies in the news Wednesday include State Street (Charts, Fortune 500), Daimler (Charts), Altria (Charts, Fortune 500), Tenet Healthcare (Charts, Fortune 500), Nokia (Charts). Top of page

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Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.