US Stocks Bounce As Turkish Currency Rises

Wall Street stocks gained early Tuesday as a bounce in the embattled Turkish currency tempered worries about emerging economies.

New York, (UrduPoint / Pakistan Point News - 14th Aug, 2018 ) :Wall Street stocks gained early Tuesday as a bounce in the embattled Turkish Currency tempered worries about emerging economies.

About 10 minutes into trading, the Dow Jones Industrial Average was up 0.2 percent at 25,248.29.

The broad-based S&P 500 and tech-rich Nasdaq Composite Index both gained 0.3 percent, with the S&P at 2,831.47 and the Nasdaq at 7,845.85.

The Turkish lira partially recovered after two days of sharp declines amid a diplomatic spat between the US and Turkey, which sparked worries about emerging economies in general.

Shares of Home Depot dipped 0.7 percent as it raised its full-year forecast following better-than-expected earnings. Net earnings jumped 31.2 percent to $3.5 billion.

Tesla Motors was little changed after announcing that its board had appointed a special committee to formally consider Chief Executive Elon Musk's proposal to take the company private.