U.S. Stocks Regain Momentum Despite Recession Fears

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U.S. Stocks Regain Momentum Despite Recession Fears
Credit: © Reuters.

By Liz Moyer

Investing.com -- U.S. stocks opened mixed on Tuesday as investors were unable to shake off the recessionary fears that have been building for weeks.

But by 9:39 AM ET, all three indexes had turned positive. The Dow Jones Industrial Average was up 97 points, or 0.3%, while the S&P 500 rose 0.5% and the NASDAQ Composite was up 0.9%.

Still, investors appeared to embrace assets with lower risk than stocks, such as Treasury bonds and the U.S. dollar. The 10-year Treasury yield fell 7 basis points, to 2.92%. The dollar index rose to just over 108, near another multi-decade peak, and the euro and dollar approached parity.

Twitter Inc (NYSE: TWTR ) shares rose 2.5% after lawyers for the social media company said the $44 billion deal with Elon Musk was still on and that Musk’s attempt to terminate it was invalid.

PepsiCo Inc (NASDAQ: PEP ) shares were flat after the company raised guidance for the full year. 

Gap Inc (NYSE: GPS ) shares fell 5.5% after the CEO stepped down after just two years on the job.

Oil fell. Crude Oil WTI Futures was down 4.7%, to $99.20 a barrel, while Brent Oil Futures crude fell 4.4%, to $102.34 and Gold Futures was down 0.1%, to $1,729.

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