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US stock market creeps back from big losses; Michael Kors jumps on earnings
U.S. stocks are rising as investors take the opportunity to buy back into the market a day after it suffered its biggest loss in more than seven months.
The Dow Jones industrial average rose 81 points, or 0.5 per cent, to 15,453 at 11:53 a.m. Eastern time Tuesday. The Standard & Poor’s 500 index climbed 12 points, or 0.7 per cent, to 1,754. The Nasdaq composite gained 38 points, or 1 per cent, to 4,035.
The market is creeping back from a 326-point drop in the Dow on Monday after disappointing news about U.S. manufacturing.
Michael Kors jumped $14.08, or 18 per cent, to $90.75 after the fashion retailer reported stronger earnings. Microsoft rose 14 cents, or 0.4 per cent, to $36.62 after it named Satya Nadella as its new CEO.
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