U.S. Stocks Open Higher, Try To Claw Out Of Brexit Hole

By Markets MarketWatch Pulse

U.S. stocks rebounded Tuesday as Wall Street attempted to steady itself after two days of brutal losses in the aftermath of the U.K.'s vote on Friday to quit the European Union. The Dow Jones Industrial Average gained 154 points, or 0.9%, to 17,294, the S&P 500 index rose 18 points, or 0.9%, to 2,018, while the Nasdaq Composite Index advanced 52 points, or 1.2%, to 4,648. A sharp rise in crude-oil prices, with U.S. benchmark West Texas Intermediate oil trading up 2.6% at $47.55 a barrel, also offered support to stock gains. The climb comes after a brutal, two-day rout in global equities that saw more than $3 trillion in value washed away following Britain's referendum on Friday to leave the EU, known as Brexit. In stocks, pharmaceutical company Regulus Therapeutics was under pressure after the Food and Drug Administration placed one of its drugs on clinical hold. Meanwhile, embattled LendingClub Corp. said it planned on eliminating 200 jobs. The moves from the online lender come after Chief Executive Renaud Laplanche in May was pushed out after the board said it found problems with its lending practices.

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