Global markets stabilize; US indexes open higher on earnings

AP News
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Posted: Jul 28, 2015 9:39 AM
Global markets stabilize; US indexes open higher on earnings

NEW YORK (AP) — U.S. stocks are opening higher after UPS, Ford and other big companies reported earnings gains and as markets in China and Europe stabilized.

The Dow Jones industrial average was up 45 points, or 0.3 percent, to 17,485 as of 9:35 a.m. Eastern time Tuesday.

The Standard & Poor's 500 index rose nine points, or 0.4 percent, to 2,076. The Nasdaq composite increased 13 points, or 0.3 percent, to 5,054.

Asian markets closed with modest losses a day after the Shanghai stock index plunged more than 8 percent, its worst fall since 2007.

European markets were mostly higher.

As stock markets calmed, investors moved money out of safe-play assets like bonds.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.26 percent.