Wall Street bounced back Tuesday from Monday's steep sell-off. Yesterday's biggest decliner, tech, was today's biggest gainer. The S&P 500 and Nasdaq gained more than 1% to snap a six-day losing streak.
Investors' fears of an escalating trade war were allayed by China's move to stabilize its currency one day after it suddenly let the yuan drop sharply.
Global X Funds research head, Jay Jacobs:
SOUNDBITE: GLOBAL X FUNDS RESEARCH HEAD, JAY JACOBS (ENGLISH) SAYING:
Shares of video game publisher Take-Two Interactive jumped. Success of its games like "Grand Theft Auto V" and "NBA 2K" encouraged the company to raise its full-year revenue forecast.
Mastercard shares charged higher. The payments processor is buying a majority stake of the corporate services business of Nets, a Scandinavian payments group.
After the bell, Disney shares fell. The media giant's quarterly profit missed analysts' targets. Heavy investments in its digital business outweighed gains from the success of its film, "Avengers: Endgame."