US stocks rally after prior day's rout

Wall Street stocks rallied in opening trading on Thursday, recovering some of the prior session's losses following a deluge of mostly solid earnings reports.

About two minutes into trading, the Dow Jones Industrial Average was up 0.5% at 24 702.32.

The broad-based S&P 500 gained 0.7% to 2 674.19, while the tech-rich Nasdaq Composite Index jumped 1.4% to 7 210.45.

Major US indices lost more than 2% on Wednesday in an ugly sell-off precipitated by worries over slowing corporate earnings growth.

Other issues that have pressured stocks include worries about higher US interest rates and anxiety over the fallout from the murder of Saudi Arabian journalist Jamal Khashoggi.

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER
ZAR/USD
17.08
(-0.10)
ZAR/GBP
21.74
(+0.14)
ZAR/EUR
19.92
(+0.17)
ZAR/AUD
12.04
(+0.52)
ZAR/JPY
0.16
(+0.18)
Gold
1856.00
(+0.10)
Silver
22.14
(+1.01)
Platinum
842.00
(+1.14)
Brent Crude
41.98
(+0.17)
Palladium
2207.00
(+0.20)
All Share
54247.81
(+1.84)
Top 40
50127.05
(+2.04)
Financial 15
9588.13
(+0.19)
Industrial 25
74229.70
(+3.26)
Resource 10
53508.98
(+1.08)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1357 votes
It depends on how the funds are used.
73% - 8808 votes
No. We should have gotten the loan elsewhere.
16% - 1941 votes
Vote