Stocks Recover After Monday's Freefall

Published by: Betty on 5th Jan 2016 | View all blogs by Betty

Stocks Recover After Monday's Freefall

US stocks finished slightly higher on Tuesday, calming investors' nerves after Monday's tumultuous start to the year. Monday's decline, fueled by a crash in Chinese stocks, was the worst initial trading day of the year since 2008. Despite Tuesday's bounce back, analysts were still cautious about the coming days and weeks. Today's advance was partially driven by stellar news from the US auto industry, which set a new sales record in 2016 despite weaker-than-expected December sales. Overall, 1,812 stocks posted Tuesday gains on the New York Stock Exchange, while only 1,277 posted declines. Of the three major indices, the Nasdaq was the only one to lose ground in Tuesday's session, sliding 12 points, or 0.24 percent, to finish at 4,891. The Dow Jones industrial average gained 10 points, or 0.06 percent, to end the session at 17,159; while the Standard & Poor's 500 rose 4 points, 0.2 percent, to 2,017.  

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