Wall Street today: US stocks rise after sharp selloff

US stocks rose on Tuesday, after a sharp selloff in the previous session as investors turned their focus to the third quarter earnings and key consumer price inflation data due later this week.

As of 12:41 p.m. Eastern time, the S&P 500 was 0.8 per cent higher, the Dow Jones Industrial Average was up 0.2 per cent, and the Nasdaq Composite was 1.2 per cent higher.

At the opening bell, the Dow Jones Industrial Average rose 68.4 points, or 0.16 per cent, to 42022.65. The S&P 500 rose 23.2 points, or 0.41 per cent, to 5719.14, while the Nasdaq Composite rose 94.0 points, or 0.52 per cent, to 18017.929.

On Monday, all three major indices had tumbled roughly 1 per cent as Treasury yields surged and on escalating Middle East tensions.

The 10-year Treasury yield edged up to 4.05 per cent from 4.03 per cent late on Monday. The 2-year yield edged down to 3.98 per cent from 3.99 per cent.

PepsiCo stock rose 0.7 per cent after it delivered stronger profit for the third quarter.

Shares of Caterpillar dropped 2.5 per cent.

Chevron shares fell 1.9 per cent on decline in oil prices.

US-listed shares of Chinese companies slid, tracking losses in domestic stocks. Shares of Alibaba Group, JD.com and PDD Holdings lost between 5.9 per cent and 6.3 per cent. 

Crude oil

Oil prices fell on Tuesday, breaking a five-day run of gains.

Brent crude futures were down $2.29, or 2.83 per cent, to $78.64 per barrel at 1315 GMT. US West Texas Intermediate futures were down $2.28, or 2.96 per cent, to $74.86 a barrel.

Bullion

Gold prices fell for a fifth consecutive session on Tuesday.

Spot gold fell 0.2 per cent to $2,639.13 per ounce by 9:53 am ET (1353 GMT). US gold futures lost 0.3 per cent to $2,658.00.

Spot silver lost 1.9 per cent to $31.13 per ounce.