US stock indices opened higher on Tuesday after Monday’s rout in global markets.
At the opening bell, the Dow Jones Industrial Average rose 1.16 points to 38,704.43. The S&P 500 was higher by 17.73 points, or 0.34%, at 5,204.06, while the Nasdaq Composite was up 63.7 points, or 0.39%, to 16,263.7.
Federal Reserve policymakers pushed back against the notion that weaker-than-expected July jobs data means the economy is in recessionary freefall, but also warned that rate cuts will be needed to avoid such an outcome.
Oil prices on Tuesday were near a seven-month low as turmoil eased on global equity markets.
Global benchmark Brent traded a little above $76 a barrel, giving up earlier gains.
Gold prices rose on Tuesday after comments from Fed officials.
Spot gold added 0.3% at $2,413.90 per ounce by 1134 GMT. US gold futures gained 0.5% to $2,455.30.
Spot silver fell 0.7% to $27.09 per ounce.
