U.S. stocks opened with small gains Thursday in an effort to bounce back from a selloff the previous session in the wake of a widely expected rate cut by the Federal Reserve.
The Dow Jones Industrial Average rose 30 points, or 0.1%, to 26,895, while the S&P 500 was up 0.2% at 2,987. The Nasdaq Composite rose 41 points or 0.4%, to 8,216.
The S&P 500 and Dow on Wednesday suffered their biggest one-day loss in two months on Wednesday after Fed Chairman Jerome Powell described the central bank's rate cut as a "mid-cycle adjustment."
Analysts said the language stoked worries the Fed wouldn't be as aggressive as thought in enacting further monetary easing.
Source : Market Watch