Investors jumped back into stocks on Tuesday snapping up discounts one day after the broader equity markets registered the worst drop of 2019.
Continue Reading Below
The Dow jumped 311 points or 1.2 percent, the S&P 500 and Nasdaq Composite gained 1.3 percent.
|I:DJI||DOW JONES AVERAGES||26770.2||-255.68||-0.95%|
|I:COMP||NASDAQ COMPOSITE INDEX||8089.54332||-67.31||-0.83%|
The rebound came after the dust settled following the U.S. and China trading currency barbs
Late Monday, the U.S. officially labeled China as a "currency manipulator" after the country devalued its yuan. The move is aimed at making China a more advantageous exporter over the U.S.
Apple shares gained after three days of heavy losses, while videogame publisher Take-Two Interactive Software jumped after raising its full-year revenue forecast.
After the closing bell, Dow member Disney reported profits that missed expectations as the media giant ramped up investments in digital. Shares fell in the extended trading session.