U.S. Stocks Open Higher; China Stimulus Hopes Fuel Global Rally

U.S. stocks opened with solid gains Wednesday, extending the previous session's bounce on growing expectations for further economic stimulus from China and in the wake of Japan Prime Minister Shinzo Abe's indication he will move to cut corporate taxes. Japan's Nikkei index rose 7.7% for its biggest one-day percentage gain in more than seven years, while the Shanghai Composite rose 2.3%. The S&P 500 was up 14 points, or 0.7%, in early trade at 1,983, while the Dow industrials advanced 138 points, or 0.8%, to 16,631. The Nasdaq Composite rose 43 points, or 0.9, to 4,855.