This post was originally published on this site
https://i-invdn-com.akamaized.net/news/wallstreet_M_1440047751.jpg
Investing.com — U.S. stock markets opened higher after two days of losses. as a measure of confidence returned thanks to a rebound in crude oil prices.
By 9:35 AM ET (1335 GMT), the Dow Jones Industrial Average was up 422 points of 1.8% at 23,441 points. The S&P 500 was up 1.8% and the Nasdaq Composite was up 1.9%.
U.S. crude futures bounced smartly after President Donald Trump tweeted threatening military action against Iran if it “harassed” U.S. shipping, and after Russia’s oil minister Alexander Novak said he thought the collapse in global oil demand had run its course.
The market was also supported by big leaps for social media companies. Facebook (NASDAQ:FB) rose 5.3% after announcing a stake of just under 10% in telecoms group Reliance Jio, marking its first big investment in India. Rival Snap also surged over 24% in response to its first-quarter earnings late on Tuesday, which showed advertising holding up well despite the coronavirus pandemic, and a bigger-than-expected rise both in average daily users and in the time they spend using the Discover feature.
Also up were consumer giant Kimberly-Clark (NYSE:KMB), which reported a sharp rise in sales of toilet paper due to stockpiling, and medical group Thermo Fisher Scientific (NYSE:TMO).
